The British government has asked the Bank of England to strengthen digital currency and payment innovation

On 27 August, Bloomberg reported that the British Government would give the Bank of England (BoE) a new responsibility to promote innovative developments in the area of digital currency and payments. The British Treasury Department has indicated that this responsibility will be a secondary objective of the Bank of England and remains subject to its core mission of financial stability. This responds to the market’s criticism of the British Central Bank’s overly conservative approach to emerging financial technologies. British Prime Minister Andy Burnham has made it a priority policy direction to maintain the competitiveness of London in the rapidly developing digital asset market. The policy means that the British regulatory framework may or will place greater emphasis on balancing risk control with financial science, technology and innovation, and may create a clearer development environment for digital payments, currency stabilization and other digital asset-related operations。