UK Treasury: Digital Assets Have the Potential to Fully Transform Financial Markets

Techub News, according to Decrypt, Lucy Rigby, Economic Secretary to the Treasury of the United Kingdom, stated at the Financial Times Digital Assets Summit that digital assets have the potential to transform the UK's financial markets, improving efficiency and accelerating capital flows. She emphasized the need to cooperate with the industry and regulatory agencies to drive market transformation.

She pointed out the need to minimize regulatory friction between the US and the UK regarding digital assets, potentially through regulatory recognition or coordination. Rigby also mentioned that the FCA and the Bank of England are about to introduce stablecoin legislation, with the authorization portal set to open within the year, and plans to seek industry opinions on a single framework for traditional and tokenized payments.