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UK Expands RTGS, CHAPS for Tokenization
Description
The Bank of England is proposing to extend its settlement system, RTGS, and CHAPS to operate around the clock, aiming to facilitate smoother cross-border payments and prepare for tokenization. The Financial Conduct Authority and Prudential Regulation Authority are also involved, with the FCA focusing on crypto regulation and the PRA updating guidance for bank CEOs. This initiative signifies the UKs commitment to embracing digital finance and creating a more efficient market for tokenized assets.
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