TechFlow News, April 21: According to The Block, the UK Treasury has unveiled a payment regulation reform proposal that aims to bring traditional payment services, stablecoins, and tokenized deposits under a unified regulatory framework. The proposal also plans to regulate stablecoins used for payments through subsequent issuance rules. Additionally, it seeks to expand the Financial Conduct Authority’s (FCA) regulatory authority over open banking and to study regulatory adjustments for AI agents conducting payment activities.
Meanwhile, the UK Treasury will provide £1 million in funding starting in April to the Centre for Finance, Innovation and Technology, and has appointed Chris Woolard CBE to lead the development of a tokenized financial system for wholesale digital markets.
