Svmuu News: During London Fintech Week, the UK Treasury announced a regulatory proposal to bring stablecoins and tokenized deposits under a unified regulatory framework alongside traditional payment services. The plan aims to regulate stablecoins used for payments under an upcoming issuance regime, while expanding the Financial Conduct Authority’s (FCA) oversight of open banking and exploring regulatory adjustments for payment activities executed by AI agents. The plan also proposes reducing administrative requirements for businesses offering stablecoin payment services through new legislation. The UK Treasury also announced the appointment of EY partner and former interim CEO of the FCA, Chris Woolard CBE, as the Wholesale Digital Markets Enabler, tasked with advancing the development of a tokenized wholesale financial system, and pledged £1 million (approximately $1.35 million) in funding to the Center for Financial Innovation and Technology starting in April. Lucy Rigby, Minister for Urban Affairs, stated that the plan aims to build a secure, competitive payment ecosystem capable of seizing the opportunities presented by technological change. The UK government acknowledged the transformative potential of digital assets and blockchain technology, believing they can reshape the way consumers and businesses interact with financial services.