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Most of these centre on how firms handle digital assets, particularly stablecoins, as well as the operational and legal adjustment needed to navigate the changing landscape. Stablecoins, as a subset of digital assets, have been a focal point of both the Bill and the FCAs regulatory discussions.
From safeguarding consumers against fraud to accelerating innovation in digital payments, regulators across the globe have introduced sweeping reforms aimed at addressing the challenges and opportunities of an increasingly digital and interconnected economy. Read Payments Review here
Kicking things off, Economic Secretary to the Treasury Emma Reynolds, said: “Financial services is the jewel in the crown of the UK economy and has a critical role to play in the government’s growth mission.” ” With a morning of global stellar speakers, it was easy to see what that growth mission looked like.
This framework underpins real, verifiable trust. Provide a LegalFramework, Not Software Design The regulation should define the legal environment for trusted digital interactions, not prescribe technical implementations. External This content is provided by an external author without editing by Finextra.
For stablecoins, concept is edging closer to reality, especially for digital dollars – with a dose of regulatory clarity. To that end, as Jeremy Allaire , CEO of Circle , told PYMNTS’ Karen Webster, a number of trends are converging to bring stablecoins into the mainstream of commercial and consumer payments.
Banks in developed economies are reducing their exposure to institutions in high-risk jurisdictions, she noted, leaving those players cut off and often reliant on less-regulated alternatives. But as Paul Palmer pointed out, safety in real-time payments isnt just a legal question. Stablecoins: Solution or shortcut?
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