UK Treasury asks Royal Mint to create NFT

Tuesday 5 April 2022 14:42 CET | News

The United Kingdom’s treasury minister has tasked the Royal Mint with creating an NFT as ‘an emblem of the forward-looking approach’

Her Majesty’s Treasury says it will take toward cryptocurrencies and blockchains. The project was announced in a speech by John Glen, the Economic Secretary to the Treasury, who said at a summit that more details on the situation would be coming soon.

That’s not to say that UK citizens should expect the government to replace the pound with HerMajesty’sCoin anytime soon. Glen announced that the treasury is asking a legal task force to consider the legal status of decentralized autonomous organizations (or DAOs).

The UK’s treasury is working on regulating some stablecoins and is still working on its regulatory sandbox to allow crypto companies to test products and services in a controlled environment.

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Keywords: stablecoin, NFT, digital assets, CBDC, blockchain
Categories: DeFi & Crypto & Web3
Countries: United Kingdom
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DeFi & Crypto & Web3

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