UK Government to Mandate Bank of England to Support Crypto Payments and Stablecoins

The UK government will assign the Bank of England a new secondary mandate to support innovation in payment systems, specifically targeting stablecoins and digital money, while maintaining financial stability. This mandate will be enacted through amendments to the Financial Services and Markets Bill and aims to integrate stablecoins into the regulatory framework alongside traditional payment systems.

This Wire brief sits within Fusion42's coverage of Fintech.