UK Gov has a systemic approach to building a stable coin

The UK government has published its response to a 2022 call for evidence and consultation on reforms to the regulatory frameworks of the Bank of England and the Payment Systems Regulator over the payments sector. It received 23 responses from financial services actors, including payment services and e-money providers, payment system operators and trade associations. The government commits to progressing reforms to both regulators' statutory perimeters over payments, to be enacted through primary legislation when parliamentary time allows. The response also updates plans to give the Financial Conduct Authority and Payment Systems Regulator rulemaking powers over retained EU payments law, and the Senior Managers & Certification Regime's remit for payments.