UK Government Suspends Plans to Launch State-Owned NFT
In a statement about reasons for the halt of NFT plans, Chair of the Treasury Select Committee Harriet Baldwin cited the uncertainty across the cryptocurrency sector.
The major UK banks warned bitcoin could negatively impact the financial system and currency in a submission to the UK Treasury.
In a statement about reasons for the halt of NFT plans, Chair of the Treasury Select Committee Harriet Baldwin cited the uncertainty across the cryptocurrency sector.
The newly announced hub, dubbed the Centre for Finance, Innovation, and Technology, is designed to unify talents across all fields in support of the fintech space.
The expert will work on delivering the strategic goals of the UK Treasury within its CBDC ambitions, lead the expanding CBDC team, analyze CBDC policy issues, as well as represent and advance the Treasury’s interests in international engagement on CBDC.
The approach by the UK government and parliament to bring sweeping regulations to guide the crypto industry is not negating the overall perception that the technology powering the digital currency ecosystem is unique and futuristic.
The UK Treasury Department had earlier called for regulations for only those stablecoins that are pegged to a fiat currency.
In addition to the UK government’s plans on stablecoin regulation, the Authority would adapt existing laws on electronic money.
The major UK banks warned bitcoin could negatively impact the financial system and currency in a submission to the UK Treasury.