The U.K. Treasury announced Thursday (Aug. 27) that it has set a new objective for the Bank of England to support innovation in stablecoins and other forms of digital money.
Under the new mandate, the Bank of England will be tasked with ensuring its regulatory framework fosters appropriate conditions for technologies such as tokenization and distributed ledger technology (DLT) to develop safely.
City Minister Lucy Rigby said in a news release that "developments in digital payments technology, including tokenization and DLT, have the potential to transform financial markets across the globe."
