UK Government tells Bank of England to support innovation in payment systems
The UK Government is to give the Bank of England a new mandate to support innovation in payment systems and digital money such as stablecoins.
The UK Government is to give the Bank of England a new mandate to support innovation in payment systems and digital money such as stablecoins.
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Why it matters
The UK Government directing the Bank of England to support innovation in payment systems and digital money represents a significant regulatory and structural development with potential long-term implications for the payments landscape and financial innovation, affecting credit markets indirectly through changes in liquidity and transaction efficiency.