The U.K.’s economic secretary to the Treasury, Bim Afolami, said the government’s priority is improving the payments landscape and providing regulatory clarity for digital assets and blockchain.
The United Kingdom Treasury intends to present a regulatory framework for crypto assets and stablecoins by July, with the aim to encourage local innovation in digital assets and blockchain technology.
The U.K.’s economic secretary to the Treasury, Bim Afolami, revealed the government’s ongoing drive to lay the groundwork for revamping the country’s payments landscape while speaking at the Innovate Finance Global Summit (IFGS) 2024.
Alongside the U.K.’s focus on fiat payment innovation, Afolami highlighted the importance of crypto regulations to remain globally competitive: