Non-fungible tokens (NFT) are rapidly gaining popularity. The number of those willing to release their unique tokens as well as invest in NFT is growing worldwide on a daily basis, and the UK’s government is one of them.
The British authorities have decided to launch their own NFT project. The initiative was developed by Chancellor of the Exchequer Rishi Sunak. The official asked the Royal Mint to issue a government NFT. The UK prepares to mint its NTF already by the summer. Economic Secretary to the Treasury John Glen welcomed the proposal of his colleague, saying the project would help the UK become a world leader in crypto and bring digital assets under more regulatory scrutiny.
The government will also consider a number of regulatory measures, including the integration of certain stablecoins (fiat-backed tokens) into the UK financial system, the creation of a “world-leading regime” for regulating trade in cryptocurrencies, and giving legal status to blockchain-based decentralized autonomous organizations (DAOs).
