UK Prioritizes Tokenization Over Stablecoins in Crypto Regulation Push

The Bank of England's crypto approach is pursuing tokenisation as a frontrunner over stablecoins | Source: Pexels Key Takeaways The Bank of England is making tokenized bank deposits, not stablecoins, the centerpiece of its digital finance strategy. Governor Andrew Bailey has softened his stance on stablecoins while maintaining that tokenization is the more valuable innovation. Top U.K. banks including HSBC, NatWest, Lloyds, and Barclays are piloting tokenized deposits for digital payments and mortgag ...