Member

However, Amendment 88 asks a bigger question. Are we simply regulating digital assets or are we building a digital assets economy? That distinction matters. Chris Woolard’s work on tokenising wholesale financial markets is extremely important, but digital assets are bigger than financial services regulation: they are becoming part of an infrastructure of money, payments, settlement, capital markets and the wider economy. That is why I strongly support the work of the Bank of England and the governor on a multi-money system, or even a “multi-moneyverse”, whereby traditional bank money, tokenised deposits, stablecoins and central bank money play complementary roles. We should be thinking about the whole ecosystem, not simply individual technologies.