Tech

After the US move, the UK seeks to regulate crypto, creating a government signal

Following efforts by the US and others to address cryptocurrency standards, UK officials said this week that they want Britain to lead the world and create its own government-backed digital signal for international trade.

“We want this country to be a global hub – the best place in the world to start and scale crypto companies,” he said. Seán GleannMP and UK Secretary of State for the Treasury.

Glen’s comments came during a keynote address at the World Financial Innovation Summit during Fintech Week 2022. It also affirmed that the United Kingdom is the leading European hub for financial technology (Fintech), “second only to the United States in the world”.

The Minister said work was underway to regulate stablecoin and further develop a regulatory framework for digital assets. He said that the Chancellor of the United Kingdom had asked the Royal Mint to non-mungible signal (NFT) to be issued this summer.

NFTs are digital tokens that represent data, media, or valuable assets, such as real estate or souvenirs. The intrinsic value of NFTs varies based on what they stand for, making their value highly subjective. However, the popularity of NFTs has increased in recent years.

Last year, NFTs reached $ 44 billion in sales.

Copyright © 2022 IDG Communications, Inc.

After the US move, the UK seeks to regulate crypto, creating a government signal

Source link After the US move, the UK seeks to regulate crypto, creating a government signal

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