#payments framework

[rwatimes]

UK begins overhaul of digital payments rules to cover stablecoins in single framework

Britain is moving to create a single payments regulatory framework that would treat stablecoins and tokenised deposits alongside existing payment services. The Treasury unveiled its direction for reforms at London Fintech Week. Plans include bringing stablecoins used for payments under an issuance regime, expanding the Financial Conduct Authority’s open banking oversight and reviewing rules for payments carried out by AI agents. The government also appointed Chris Woolard as wholesale digital markets champion and pledged 1 million pounds from April for the Centre for Finance, Innovation and Technology.

➤ The UK is establishing a unified payments regulatory framework that will encompass stablecoins and tokenized deposits alongside traditional payment services. ➤ Key reforms include bringing payment-focused stablecoins under an issuance regime, expanding the FCA's open banking oversight, and reviewing AI agent payment regulations. ➤ The initiative aims to foster innovation, modernize the payments system, and position the UK as a global leader in financial services and fintech.

[rwatimes]

UK Treasury Unveils Unified Payments Framework Covering Stablecoins and Tokenized Deposits - FinanceFeeds

The UK Treasury has unveiled a regulatory package to consolidate stablecoins, tokenized deposits, and traditional payment services into a single framework,

➤ The UK Treasury has introduced a unified regulatory framework for stablecoins, tokenized deposits, and traditional payment services, integrating them into the existing financial infrastructure. ➤ This initiative aims to reduce fragmentation, provide regulatory clarity for financial institutions exploring digital assets, and support the UK's broader digital finance strategy. ➤ While regulatory progress is made, industry experts highlight operational challenges like custody and system resilience as key factors for large-scale adoption.