The UK is planning to amend payment rules to support stablecoins and tokenized deposits

BlockBeats News, April 21st, according to Cointelegraph, the UK is re-examining its payment regulatory framework to support the application of new financial technology such as stablecoins and tokenization in payment technology.

In a statement on Tuesday, the UK Treasury, along with Treasury Minister for Economic Affairs Lucy Rigby, stated that the government will be consulting on the reform of payment service and cryptocurrency rules.

The UK Treasury stated that these changes are aimed at establishing a unified regulatory framework for traditional payments and tokenized payments (including stablecoin and tokenized deposits). It also mentioned plans to advance legislation to reduce the administrative burden on businesses offering stablecoin payment services.