During the FinTech Week in London The Government has announced a new package for the future of rapid financial innovation in the UK's payments sector.
Link to announcement below:
update
Key details:
- Improving the regulation of payment services and electronic money by integrating it with the UK's core regulatory approach for financial services. This will mean establishing a single, coherent framework for both traditional and tokenised payments, including both stablecoins and tokenised deposits.
- Regulating stablecoins for their use in payments, where these stablecoins have been issued under the forthcoming new regulated activity for stablecoin issuance in the UK.
- Exploring how the regulation of payments services should adapt to payments conducted by AI agents.
- Providing the FCA with new powers to regulate the future of Open Banking that will include underpinning the development of new Open Banking payments within commercial schemes.
#Digitalassets #innovationcommunity
- Todor
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Todor Kostov
Director
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