Bank of England Details Digital Asset Support Plan
The Bank of England has outlined its support plan for digital assets in the UK's financial markets. The central bank emphasizes that it will focus on regulatory outcomes rather than technology for its own sake, helping firms test new models and develop commercially viable applications.
Sasha Mills highlighted tokenisation's benefits for efficiency and cost reduction but stressed commercial adoption, user engagement, and liquidity connectivity remain critical challenges for UK market integration. The Bank says existing advantages include a trusted legal system, established market infrastructure, deep capital markets, and active government and regulatory programs.
The Bank of England will support responsible digital asset innovation via five channels focused on regulatory outcomes. This includes outcome-based regulation, support for testing and growth, clearer processes, industry coordination, and cooperation with overseas authorities.