The UK Treasury's Economic Secretary has said digital assets could bring a 'complete transformation' of financial markets, announcing that an upcoming consultation on payments will cover both digital assets and AI agents. The statement, made without naming a specific timeline, signals a new regulatory push in London.
What the consultation will cover
The consultation will examine how to update the UK's payment rules to account for digital assets — a category that includes cryptocurrencies and tokenized securities — and AI agents, which are software programs that can autonomously execute transactions. The Treasury hasn't released details yet, but the move suggests the government is preparing to bring these technologies under formal oversight.
A 'complete transformation' of markets
The Economic Secretary to the Treasury described digital assets as a potential driver of a 'complete transformation' of markets. That language is strong for a government official, indicating the Treasury sees this as more than a niche update. The official didn't give specifics on how the transformation might unfold, but the consultation is expected to lay out concrete proposals.
Part of a wider regulatory push
The UK has been working for years to build a framework for digital finance. The Financial Conduct Authority has already consulted on stablecoins and crypto promotions. This new consultation on payments is the next step, and it's the first time AI agents have been explicitly included in a government payments review. The Treasury hasn't said when the consultation will be published, but it's likely within the next few months.
Industry participants will be watching for the consultation's release, which will include specific questions on how to regulate digital assets and AI agents in payments. The Treasury has not yet set a date.
