The UK Economic Secretary to the Treasury, Lucy Rigby, has announced a package of fintech measures including several that cover tokenization. As reported last week, the government has made a U-turn and now intends to integrate stablecoins into payment regulations alongside a new stablecoin statutory instrument. Chris Woolard, an EY partner, has been appointed as the government’s new Wholesale Digital Markets Champion.

Integrating stablecoins with payment regulations is a critical step in providing legal clarity, including settlement finality for institutional use cases. Last week the Financial Conduct Authority announced another crypto-asset consultation, which included…