Financial Times · AI Agent · U.S. Treasury · Decrypt
UK Treasury: Digital Assets Have Potential for 'Complete Transformation' of Markets
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Digital assets have the potential to effect sweeping changes on U.K. financial markets, according to Lucy Rigby, Economic Secretary to the Treasury.
Key facts
- Digital assets have the potential to effect sweeping changes on U.K. financial markets, according to Lucy Rigby, Economic Secretary to the Treasury
- This is about streamlining regulation in the payment space,” she said, encompassing both stablecoins and AI agents
- The Economic Secretary also pointed to the need to “minimize frictions” between the U.K. and U.S. regulatory regimes for digital assets, adding that it “may well take the form of some forms of recognition or alignment
Summary
Digital assets will have a transformative impact on U.K. financial markets, said Economic Secretary to the Treasury Lucy Rigby. Rigby pointed to the need to “minimize frictions” between the U.K. and U.S. regulatory regimes for digital assets. Speaking at the Financial Times Digital Assets Summit, Rigby said that digital assets offer benefits including “efficiencies generally, but also everything happening much more speedily.” She added that it’s important to consider “what that means for business,” including quicker capital flows and “capital being freed up for other things.” More broadly, Rigby argued, digital assets have “the potential for complete transformation of our markets, and that goes beyond efficiencies,” noting that the Treasury has to “work closely with industry, with regulators, and give some proper thought to exactly how digital assets do transform our financial markets.”