The UK government has given the Bank of England a secondary responsibility to promote digital currency and payment innovation

According to Bloomberg, the UK government will give the Bank of England a secondary responsibility to promote digital currency and payment innovation, without compromising its primary mission of maintaining financial stability. UK City Minister Lucy Rigby stated that tokenization and distributed ledger technology have the potential to change global financial markets, and this secondary goal supports the Bank of England in promoting innovation in payments and digital finance. Sarah Breeden, Deputy Governor of the Bank of England, welcomes the new responsibilities.