Fraud fund, stablecoins, Open Finance: industry tests Innovate Finance’s asks
70 pts · High·The Fintech Times·8h ago · Sep 16, 12:00 UTC·1 min read
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On 9 September, Innovate Finance presented six asks to the Burnham government ahead of the upcoming Budget. While securing agreement on its diagnostic approach, industry firms expressed concerns over three of the proposed mechanisms, indicating potential challenges ahead for their implementation.
Key takeaways
- ▸Innovate Finance set forth six key asks to the Burnham government regarding industry needs.
- ▸The trade body achieved agreement on its diagnosis but faced pushback on three proposed mechanisms.
- ▸Criticism from industry firms suggests potential hurdles for implementing Innovate Finance's proposals.
Why this matters
The outcome of Innovate Finance's negotiations could significantly impact the UK fintech landscape, particularly in areas like stablecoins and Open Finance. If the government's response aligns with the industry's needs, it may catalyze growth and innovation. Conversely, persistent disagreement on key mechanisms could hinder progress and regulatory support, affecting how firms navigate the evolving financial environment.
Entities
Regulators: Burnham government
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