UK Government Orders BOE to Boost Digital Currency Innovation

The UK government has instructed the Bank of England to prioritize innovation in digital currencies and payments. This new responsibility will be secondary to maintaining financial stability, according to the Treasury.

Prime Minister Andy Burnham has emphasized the importance of ensuring London's competitiveness in the rapidly evolving digital asset market. The goal is for the BoE to bolster innovation in this area, amid criticism that it has been too conservative in its approach to emerging technologies.