BoE’s approach to payments regulation is technology neutral, official says
Central bank operates “same risk – same regulation” policy, says director of fintech
New methods of payment must deliver the same protection as existing payments market infrastructure, irrespective of the technology used, according to a senior official from the Bank of England.
Speaking today (October 26), Tom Mutton, the BoE’s director of fintech, stressed that if innovation was not “responsible”, risks were likely to “quickly emerge” and benefits “will not endure”.
“Payments have been an area of rapid, and welcome, innovation. But the right regulation needs to be in place so
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