Gate News message, April 21 — The UK Treasury announced plans to bring stablecoins and tokenized deposits under a unified regulatory framework alongside traditional payment services. The framework will regulate stablecoins used for payments through a new stablecoin issuance regime and expand the Financial Conduct Authority’s (FCA) oversight of open banking, while exploring regulatory adjustments for AI-agent payment activities.
The Treasury plans to introduce legislation to reduce administrative burden on firms providing stablecoin payment services. The government will also implement regulatory reforms across payment services and e-money regulations, with consultations to follow.
The Treasury appointed Chris Woolard CBE, former FCA interim chief executive and current EY partner, as “wholesale digital markets lead” to drive development of tokenized wholesale financial systems. The government will also allocate approximately 1 million pounds to the Centre for Finance, Innovation and Technology (CFIT) to support industry collaboration.
These measures align with the UK’s ten-year financial services development plan.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Justin Sun Skips Trump Memecoin Event Amid Legal Dispute with World Liberty
Gate News message, April 26 — Justin Sun, one of the largest investors in the TRUMP token, notably did not attend a memecoin-themed event hosted by US President Donald Trump at Mar-a-Lago in Florida this year, marking a significant shift from his prominent appearance at a similar event last year.
T
GateNews42m ago
U.S. Military Confirms Bitcoin Node Operations as Multiple Nations Adopt Crypto for Statecraft
Gate News message, April 26 — Admiral Samuel Paparo, Jr., who leads U.S. forces across the Indo-Pacific, told a Senate panel that Bitcoin matters to national security. The Pentagon is running its own Bitcoin node and conducting operational tests to secure and protect networks using the Bitcoin
GateNews1h ago
Tennessee Bans Crypto ATMs Statewide, Second State After Indiana
Tennessee has become the second U.S. state to outright ban crypto ATMs, with Governor Bill Lee signing House Bill 2505 into law on April 13, 2024, after it passed both chambers unanimously. The ban will take effect July 1, 2024, and makes it a misdemeanor to operate or host the machines anywhere in
CryptoFrontier2h ago
DOJ Drops Criminal Investigation Into Powell, Clearing Path for Crypto-Friendly Warsh to Lead Fed
Gate News message, April 26 — The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, clearing the way for the Senate to confirm Kevin Warsh as the incoming central bank chair. U.S. Attorney for the District of Columbia Jeanine Pirro
GateNews4h ago
U.S. Sanctions Iran-Linked Crypto Wallets, Tether Freezes $344 Million USDT
Gate News message, April 26 — The U.S. federal government sanctioned multiple wallets linked to Iran on April 25, with Treasury Secretary Scott Bessent announcing the action as part of efforts to increase economic pressure on the country amid an ongoing ceasefire. The sanctions came a day after
GateNews4h ago
Trump Says He 'Has to' Back Crypto After Mar-a-Lago Token Event
President Donald Trump said he has an "obligation" to support the crypto industry after hosting top buyers of his $TRUMP meme coin at Mar-a-Lago, according to reports from the event. Trump made the remarks Saturday before returning to Washington, arguing that crypto had become a major industry and t
CryptoFrontier7h ago
