United Kingdom Affirms Plans To Fully Embrace Tokenization 'To Embrace Future Payments Technology' And 'Fundamentally Change How People Interact With Money'
The UK will establish "a single, coherent framework for both traditional and tokenized payments, including both stablecoins and tokenized deposits."
Last week, The WinePress reported that the United Kingdom and the Bank of England signaled that they were preparing to fully transition into a tokenized economy, and introduce stablecoins for retail payments. Policymakers in the U.K. previously remarked that they were not considering stablecoins, but there is now a clear shift since President Donald Trump signed the Genius Act last year that created a legal framework for digital dollars in the form of stablecoins.
In a Tuesday announcement, the Treasury and Economic Secretary to the Treasury Lucy Rigby revealed that they are seeking to reform the rules for new payments systems and methods.
Tokenization is the explicit goal.
According to the press release:
The government is today setting out further detail on how the government intends to modernize payment services regulation and update it to support new innovations in money and payments, ahead of soon publishing a consultation inviting the payments sector to feedback. This includes:
Improving the regulation of payment services and electronic money by integrating it with the UK’s core regulatory approach for financial services. This will mean establishing a single, coherent framework for both traditional and tokenized payments, including both stablecoins and tokenized deposits.
Regulating stablecoins for their use in payments, where these stablecoins have been issued under the forthcoming new regulated activity for stablecoin issuance in the UK.
Exploring how the regulation of payments services should adapt to payments conducted by AI agents.
Providing the FCA with new powers to regulate the future of Open Banking that will include underpinning the development of new Open Banking payments within commercial schemes.
The government recognises the transformative potential of digital assets and blockchain technologies. These developments have the potential to fundamentally reshape how consumers and businesses interact with financial services, and the UK is well placed to be at the forefront of that transformation.
We will soon consult on how to reform the regulation of payment services and electronic money, ensuring the framework is ready to support tokenised payments such as stablecoins, unlock the full potential of Open Banking, and explore how to enable the safe adoption of AI agents to conduct payments on behalf of consumers and businesses
Additionally, the Treasury also selected former Financial Conduct Authority veteran Chris Woolard as digital markets champion for its Wholesale Financial Markets Digital Strategy, who will help advance tokenization of the economy in the U.K.
“He will lead the government’s work to deliver a more efficient and competitive financial sector by building a tokenized wholesale financial markets system,” the government notice added.
Rigby stated in a statement:
“Fintech is true British success story, and we are backing the industry to maintain its competitive edge and go even further and faster in driving growth.
“Today’s package is our latest stake in the ground as we build a payments ecosystem that is secure, competitive and fully equipped to harness the opportunities created by rapid technological change.
“I also welcome our new Wholesale Digital Markets Champion, Chris Woolard CBE, who will help the government drive tokenisation in our markets - a critical shift for the next “digital big bang” for the UK sector.”
Woolard added:
“It’s an honour to be appointed Digital Markets Champion for the UK’s Wholesale Financial Markets Digital Strategy. As financial markets increasingly move away from manual processes to digital, tokenised systems, collaboration and an open two-way dialogue between the private and public sectors will best support the Strategy’s success, and will ultimately enhance the UK’s global competitiveness as a leader in digital markets.
“UK fintech benefits from Britain’s world-leading financial services sector offering a thriving start-up ecosystem, global banks and insurers, leading universities, and a regulator that engages with innovation early so firms can test, learn and scale responsibly.”
Moreover, Philip Belamant, Co-Founder and CEO of Zilch, a digital payments and shopping app, said in a comment:
“AI will fundamentally change how people interact with money, shifting payments from something consumers actively manage to something that is intelligently managed and optimised in the background. As this becomes a reality, it’s critical that regulation evolves to support innovation while maintaining strong consumer protections.
“We welcome the government’s focus on adapting payment regulation for AI-driven transactions. The UK has a real opportunity to lead globally in enabling agentic finance, helping consumers benefit from smarter, more efficient ways to manage their money.”
AUTHOR COMMENTARY
The tokenized control system is being built in broad daylight now, governments are becoming more overt about it, and yet the public has zero idea of the trap that befalls them.
Proverbs 29:5 A man that flattereth his neighbour spreadeth a net for his feet.
The British Treasury is not telling people the full picture of how tokenization will eventually control every aspect of their lives because every asset, every commodity, every identity, will be reduced to a token; and those tokens then interact with and are managed and manipulated on a blockchain connected to AI and IoT and IoB technologies.
Notwithstanding, Belamant’s statement is quite revealing and should raise an eyebrow to anyone who is just becoming acquainted with what tokenization is.
If you enjoy this report and others like it, please consider sharing this post and supporting The WinePress down below!
The Lord Of Glory: The Detailed Guide To Who God Is – Available Now!
On one of his missionary journeys, the apostle Paul visited Athens, Greece, where he said he witnessed “the city wholly given to idolatry,” and who were “too superstitious” and worshipped a plurality of gods and deities, though the people acknowledged that there was still one God above all that was a mystery to them. When questioned by the philosophers …
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
To support The WinePress, you can contribute by doing one or more of the following:
You may send cash, check or letters to this address:
Jacob M. Thompson
#119
12820 Adams Rd.
Granger, IN 46530
If you decide to send a check, please do not address it to “The WinePress.” Please address it to the name listed.
You can become a paid member on Substack.
You can also donate electronically by hitting the link below:
So hard to keep up with the madness. So, thank you Jacob for staying on top of their every move.
I think that Canada will follow suit of the U.K. model. It will all be framed in the context of "Payments" and "Payment systems," rather than CBDC.
A couple of years back the Bank of Canada abandoned the CBDC project because of huge backlash from a related nation-wide survey where over 80k respondents basically rejected the idea outright (about 80% of them did). And about 79% actually said they don't trust the Bank of Canada to manage a CBDC. Maybe Canadians are waking up, after all.
But the packaging of these tokenised/digitised monies and payments doesn't change their oppressive and dystopian natures, as they will 100% still have all those heinous features.
The masses need to use cash as much as possible and reject their newly introduced digital payment means.
Doing some genealogy for some who live during WWII. Ready some family letters, one who was in the army writing home about how many points he had towards getting out since in the 4 yr range of service. Another letter from a mother at home to a son serving talking about rations, onoy 16 points so not enough for some daily food supplies, and meat was going to start being rationed the following week. Grateful for canning previous as that would get them through.
Seems like the system was set decades ago.