According to CoinMeta, and as reported by Bloomberg, the UK government will assign the Bank of England a new secondary responsibility, requiring it to promote digital currency, payment, and digital finance innovation while continuing to prioritize maintaining financial stability. The UK Treasury also stated that existing innovative responsibilities targeting central counterparties and central securities depositories will be extended to include supervision of payment systems. In addition, the UK and the US have established a joint working group to promote the use of stablecoins, and in June, the Bank of England also abolished the proposed limits on the holding of stablecoins by individuals and businesses.