Riccardo Tordera
DIGITAL ASSETS
Riccardo Tordera
Director of Policy & Government Relations The Payments Association
IF WE WANT TO GROW THE UK ECONOMY, THE PRIORITY SHOULDN’ T BE ON SELLING BITCOIN, BUT ON BUILDING THE RIGHT CONDITIONS FOR INNOVATION
With the US GENIUS Act setting a new benchmark for digital asset regulation, The Payments Association’ s Director of Policy and Government Relations, Riccardo Tordera, warns that without a more ambitious and proportionate stablecoin regime, the UK could forfeit its status as a world-leading financial hub.
“ There is a growing disconnect between the Chancellor’ s Mansion House speech – where Rachel Reeves pledged to‘ drive forward developments in blockchain technology, including tokenised securities and stablecoins […] so that UK financial services can be at the forefront of digital asset innovation’ – and the direction of travel in current regulatory proposals.“ If the FCA continues down an overly restrictive path, the UK risks undermining its competitiveness and missing out on the substantial economic benefits that stablecoins can deliver.
“ If we want to grow the economy, the priority shouldn’ t be on selling Bitcoin, but on building the right conditions for innovation – unlocking revenue potential, job creation and the infrastructure for a digital-era‘ big bang’. Stablecoins are critical to that vision.”
Riccardo Tordera
166 September 2025