The UK Government announces that it wants to “take the lead” in the field of crypto assets. The first step to achieve this is the creation of its own NFT by this summer, at the request of finance minister Rishi Sunak.
The UK has the ambition to become the” world leader ” in crypto assets. At least that’s what the British government thinks. In a message, the government said it wants to take several measures to make the UK a “global hub for technology and investments in crypto assets.”
An important part of the plan is the “minting”, or creation, and sale of an NFT, at the request of British finance minister Rishi Sunak. The NFT will be released by the Royal Mint of the UK. This would be the first step in a broader plan by the authorities to “pave the way” for crypto assets such as stablecoins, or cryptocurrencies linked to the exchange rate of fiat money. They should one day serve as a legal means of payment in the UK, it sounds.
” By recognizing the potential of this technology and regulating it now, the government can ensure financial stability and stricter standards so that this new technology can ultimately be used reliably and safely, ” the statement said. In addition, the UK government hopes to attract crypto companies that manage stablecoins in this way and give them the opportunity to “operate and grow”in the UK.
To “ensure that the UK financial services sector continues to be at the forefront of technology and investment and continues to attract jobs and increase customer choice” ” the UK Government is planning some measures for crypto including:
- Providing” facilities ” in the financial markets to allow companies to experiment with this technology and innovate further.
- The creation of an organization that deals with crypto assets and will work closely with the sector.
- The government wants to explore how the UK tax system can be improved to encourage further development of market for crypto assets.
More details will be announced” very soon”, says John Glen, Secretary of the British Treasury.