Member

There is also an international dimension. In my regular discussions with senior policymakers in Washington, including the US SEC and the CFTC, it is clear that the United States is moving rapidly to shape the digital assets market through the GENIUS and CLARITY Acts. We do not need to copy the US, but we do need to recognise the competition and recognise a particular opportunity for the United Kingdom. Of course, the UK is a global financial centre, with extraordinary strengths in financial markets, legal services, fintech and professional services. That gives us an opportunity not simply to follow international developments but to lead international standard-setting. Indeed, the Bank of England is already showing what that leadership can look like through its work on interoperability and multi-asset, multi-currency tokenised financial systems.