The UK Payments Association calls on the government to build a digital asset ecosystem that includes Web3, DeFi and smart contract standards

On the occasion of the UK general election, The Payments Association has called on the incoming UK Chancellor to impose a "tech tax" on social media giants to pay for the impact of payment fraud originating from their platforms. In addition, The Payments Association has also called on the UK government to issue a national payment vision and strategy for the entire ecosystem in a letter to the incoming UK Prime Minister, achieving the next stage of open banking and open finance, and taking legislative measures to establish a suitable digital asset ecosystem that includes Web3, DeFi, and smart contract standards.