UK Government Explores Plans To Make Britain A Hub For Global Crypto Asset Technology

The UK government has unveiled a new set of plans to spearhead crypto strategies and emerge as a world leader in the field of cryptocurrency domain.
UK Government Explores Plans To Make Britain A Hub For Global Crypto Asset Technology

The United Kingdom is bolstering efforts to make Britain a hub for global crypto-assets tech, as it announced a new set of plans which include minting a new NFT as part of its grand plan to emerge as a leader in the crypto domain. 

Finance Minister Rishi Sunak has asked the Royal Mint, a government-recognized company that issues coins for the UK government, to issue an NFT called “by summer,” to accelerate and adopt crypto tech and innovation.

UK Embracing Crypto

In a recent announcement, UK’s finance minister Rishi Sunak has made some critical plans concerning crypto adoption, including minting an NFT as well as introducing stablecoins as a recognized form of payment in the country.

Furthermore, the United Kingdom intends to “explore ways of enhancing the competitiveness of the UK tax system to encourage further development of the crypto asset market.”

The UK’s NFT endeavor is described as a “part of a package of measures to ensure the UK financial services sector remains at the cutting edge of technology, attracting investment and jobs and widening consumer choice.”

In addition to this, the “package” also includes introducing different elements encompassing the “financial market infrastructure sandbox” to let firms in the UK explore and innovate new crypto plans. The announcement further comprises information about launching a “crypto-asset engagement group” to study and comprehensively assess the industry.

In addition to this, UK’s Finance Minister Rishi Sunak added that he looks forward to seeing Britain emerge as a hub for global crypto assets, technology, and investment shortly.

“It’s my ambition to make the UK a global hub for crypto-asset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country. We want to see the businesses of tomorrow – and the jobs they create – here in the UK, and by regulating effectively we can give them the confidence they need to think and invest long-term. This is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation.” Sunak later added. 

Juhi Mirza
Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallize technical facts/multiple perspectives into riveting stories makes her an accessible finance writer. Contact: Juhi.Mirza [at]