HM Treasury consults on expanding Bank of England supervisory fee regime to digital settlement assets
HM Treasury launched a consultation to update the Bank of England's fee-levying powers to include digital settlement asset (DSA) service providers and specified service providers. The proposal seeks to ensure the Bank can fully recover the costs of its expanding supervisory remit under the Financial Services and Markets Act 2023, moving toward a proportional, cost-neutral oversight model for systemic payment systems.
Telemetry is advisory — directional context, not a deterministic risk score.
Strategic Governance Impact
Structural governance significance — not general importance.
Operational information
HM Treasury is consulting on expanding the Bank of England's supervisory fee regime to include digital settlement asset providers. This proposal shifts the financial cost of supervision to these firms but does not introduce new governance, compliance, or risk management requirements. Executive decision-making and organizational accountability frameworks remain unchanged because the underlying regulatory boundaries were already established.
Exposure pathway
Operators of UK-recognised payment systems, providers of critical services to those systems, and firms managing digital settlement assets (stablecoins) are directly exposed to new annual supervisory levies. Compliance and Finance functions must account for shifting cost structures and potential inclusion in the 'special regime' for systemic infrastructure.
What may need to be proven
Impacted firms will need to provide granular data on relevant revenues or activity levels to facilitate the Bank’s fee calculation methodology. Documentation must demonstrate alignment with new statutory definitions of 'specified service providers' and 'DSA service providers'.
Operational consequence mapping
What this signal actually changes
- What operational condition changed?
- The Bank of England’s ability to recover supervisory costs is extended from traditional payment systems to encompassing digital asset ecosystems and critical third-party service providers.
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