The British government will announce an NFT series through the UK Royal Mint. The Treasury Department tweeted that the UK would release its own cryptoasset.
The chancellor, Rishi Sunak, asked the 1136-year-old institute to build the NFT which will be accessible by summer. The Treasury stated on Twitter: “This decision reflects the forward-looking approach we are determined to take to cryptoassets in the UK.
There are so few details about the announcement of the Treasury. It did not mention what image or object the Royal Mint’s NFT would create. Besides, it did not say whether they are going to use the NFTs to raise funds for the national treasury. A spokesman stated that more information will be announced shortly.
As reported by Sunak, it was his desire to make the Britain a global core of cryptoasset tech. “We want to see the businesses of the next day, and the jobs they made in the UK,” Sunak stated. “By effective regulation, we can provide them the self-assurance they need to think and invest in the long run.”
In addition, the British government said it intended to regulate stable coins and after that recognize them as a way of payment. The decision conveys that the UK financial services sector is yet at the advanced tech.
Nevertheless, this is not the initial time a country has used NFTs and cryptocurrencies. Ukrainian officials used NFTs and crypto to fight with Russia. Probably in the future, more government officials in other countries will identify the different facilities and possibilities via NFTs.
The post The UK government will release an NFT series appeared first on NFT News Pro.