Signal National Payments Vision published in November 2024

Summary

HM Treasury published its National Payments Vision in November 2024. The vision sets out the government's ambition for a trusted, world-leading payments ecosystem running on next generation technology. It also aims to give consumers and businesses more choice within a clear regulatory framework. The report lists it alongside cryptoasset promotion rules and the planned cryptoasset regulatory regime as mitigations against the risks of emerging financial systems. It argues that safe adoption of blockchain and digital currency in the West would allow it to shape global standards for how these technologies are implemented and used. It also sees new policing powers to seize digital assets linked to crime as helping to deter economic crime.