[The UK Government to Require the Central Bank to Promote Digital Currency and Payment Innovation] According to Bloomberg, the UK government will assign the Bank of England a new responsibility—to promote digital currency and payment innovation. This objective will be a secondary goal and will not affect its primary mission of maintaining financial stability. UK City Minister Lucy Rigby stated that tokenization and distributed ledger technology "have the potential to transform global financial markets." This secondary objective will support the central bank in continuing to drive innovation in payments and digital finance, ensuring that the UK maintains its leading position as a global financial services hub. Previously, the UK and the US established a joint task force to promote the adoption of stablecoins. In June, the Bank of England scrapped its earlier proposal to impose limits on the amount of stablecoins individuals and businesses could hold. Deputy Governor Sarah Breeden welcomed the new responsibility.