The goal of stablecoin regulation is shifting from simply controlling risk to “supporting payment innovation on the premise of stability.” The UK Treasury plans to give the Bank of England an additional secondary objective for payment innovation, applicable to digital settlement assets including stablecoins. Officially, it is clear that this objective falls under the primary objective of financial stability.
This is not a relaxation of existing prudential requirements, nor does it mean that stablecoins will immediately be granted new payment status. What it changes is the framework for regulatory trade-offs: when assessing innovation, systemically important payment arrangements will be required to consider safety, usability, and technological iteration at the same time.
This adjustment still needs to be advanced through amendments to the Financial Services and Markets Act. Monitor the outcome of parliamentary deliberations and how the Bank of England discloses the implementation of this objective in its annual report.
#稳定币 #Payment innovation
This is not a relaxation of existing prudential requirements, nor does it mean that stablecoins will immediately be granted new payment status. What it changes is the framework for regulatory trade-offs: when assessing innovation, systemically important payment arrangements will be required to consider safety, usability, and technological iteration at the same time.
This adjustment still needs to be advanced through amendments to the Financial Services and Markets Act. Monitor the outcome of parliamentary deliberations and how the Bank of England discloses the implementation of this objective in its annual report.
#稳定币 #Payment innovation
