The HM Treasury has announced plans to overhaul payments regulations to support stablecoins and tokenised deposits as part of a broader fintech strategy.
The proposed reforms aim to create a single framework covering both traditional and digital payment systems, reducing complexity for companies offering services such as stablecoin payments.
“This will mean establishing a single, coherent framework for both traditional and tokenised payments,”
The Treasury said, outlining its approach to integrating new technologies into the financial system.
The government also appointed Chris Woolard as digital markets champion to support its Wholesale Financial Markets Digital Strategy.
The initiative is designed to reduce administrative burdens and position the UK as a global hub for digital assets ahead of broader crypto legislation expected in 2027.
Officials are also exploring how payment regulations should adapt to AI agents conducting transactions on behalf of users, reflecting rapid changes in financial technology.
The reforms were unveiled during UK Fintech Week in London, as policymakers seek to balance innovation with consumer protection in evolving digital markets.