Apr 23
UK Plans Stablecoin Payments Rule Changes
UK plans payment rule changes to bring stablecoins and tokenized deposits into the same framework as traditional payment services.
➤ The UK government is updating payment regulations to integrate stablecoins and tokenized deposits into the existing framework for traditional payment services. ➤ This move aims to create a unified regulatory approach for both traditional and digital forms of money, avoiding a separate 'crypto' category for stablecoins. ➤ The proposed changes will include a consultation on reforms, new FCA powers over Open Banking, and aim to reduce administrative burdens for firms offering stablecoin payment services.
