Wholesale Digital Markets Champion first report

HM Treasury (HMT) has published a report (the first of two) from the Wholesale Digital Markets Champion, Chris Woolard, together with its terms of reference. This first report sets out a framework for developing a tokenised UK wholesale financial markets system and the steps needed to implement the government's Wholesale Financial Markets Digital Strategy. It reviews the current innovation landscape, examines key policy considerations, other jurisdictions' approaches, and the impacts of cross-border issuance and international interoperability.

It identifies immediate industry priorities and corresponding actions for HMT and the authorities to take, shaped by ten identified priorities to be driven over the next 12 months by the Digital Markets Champion Industry Taskforce ("the Taskforce"). To achieve this, the Taskforce will establish action groups across nine areas, with further details on appointments to follow by September. Views on the report are invited by 4 September.

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