Techub News reports that the UK Treasury and Economic Secretary Lucy Rigby announced a series of core measures during London Fintech Week aimed at modernizing payment regulation and enhancing fintech competitiveness. The plan will also explore regulatory adjustments for AI agent payments and grant the Financial Conduct Authority (FCA) new powers to oversee the future development of Open Banking. Other measures include an additional £1 million funding to the Centre for Finance, Innovation and Technology (CFIT), and a plan to incorporate the Payment Systems Regulator (PSR) into the FCA to streamline regulatory processes.

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