UK to Legalize Stablecoins and Issue NFTs

The United Kingdom has announced that it plans to issue NFTs and introduce stablecoins into the country’s payment system. This way, the country plans to provide issuers and service providers with favorable conditions.

In addition, the government of the country plans to regulate the crypto industry as a whole and turn the country into a world leader in the field of innovation and financial technologies.

The Economic Secretary to the Treasury and City Minister John Glen has announced the initiative at a fintech event in London, and the country’s Chancellor of the Exchequer Rishi Sunak has addressed the Royal Mint with a request to create and issue NFT. The latter said:

“We want to see the business of tomorrow and the jobs it will create here in the UK and by effectively regulating it we can give it the confidence it needs to think and invest for the long term.”

The UK government has published a press release according to which the country wants to become a “global technology center for crypto assets”.

staff
yourcryptostop.com