{"id":59602,"date":"2022-04-05T11:40:06","date_gmt":"2022-04-05T08:40:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59602"},"modified":"2025-09-04T22:45:47","modified_gmt":"2025-09-04T19:45:47","slug":"uk-treasury-to-legalise-stablecoins-and-issue-nfts","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uk-treasury-to-legalise-stablecoins-and-issue-nfts\/","title":{"rendered":"UK Treasury to legalise stablecoins and issue NFTs"},"content":{"rendered":"<p>The British <span data-descr=\"The UK Treasury\" class=\"old_tooltip\">Treasury<\/span> <a href=\"https:\/\/www.gov.uk\/government\/news\/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub\">announced<\/a> plans to legalise stablecoins. The department intends to gradually recognise them as a lawful means of payment. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStablecoins are a type of crypto asset whose value is typically pegged to fiat currencies, such as the dollar, and remain stable. With proper regulation they can become a more efficient form of payment and broaden consumer choice,\u201d officials said.<\/p>\n<\/blockquote>\n<p>In addition, <span data-descr=\"The Royal Mint \u2014 a government body that mints coins for the national currency\" class=\"old_tooltip\">The Royal Mint<\/span>, owned by the Treasury, will issue its own NFTs. The move is intended to signal the UK&#8217;s crypto-friendly jurisdiction, the Treasury said.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Chancellor <a href=\"https:\/\/twitter.com\/RishiSunak?ref_src=twsrc%5Etfw\">@RishiSunak<\/a> has asked <a href=\"https:\/\/twitter.com\/RoyalMintUK?ref_src=twsrc%5Etfw\">@RoyalMintUK<\/a> to create an NFT to be issued by the summer.<\/p>\n<p>This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. <a href=\"https:\/\/t.co\/cd0tiailBK\">pic.twitter.com\/cd0tiailBK<\/a><\/p>\n<p>\u2014 HM Treasury (@hmtreasury) <a href=\"https:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw\">April 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cChancellor Rishi Sunak has tasked the Royal Mint with issuing NFTs this summer. This decision signals a forward-looking approach that we intend to adhere to in our work with cryptocurrencies in the United Kingdom.\u201d<\/p>\n<\/blockquote>\n<p>In addition to regulatory acts, the Treasury will open an \u201cinfrastructure sandbox for the financial market.\u201d It will allow industry players to experiment and innovate, and \u201cwill boost the competitiveness of Britain\u2019s tax system,\u201d the ministry said.<\/p>\n<p>Earlier in March, the <span data-descr=\"UK Financial Conduct Authority\" class=\"old_tooltip\">FCA<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/british-regulator-reports-investigations-into-50-crypto-firms\">said<\/a> it was investigating 50 crypto-industry companies. Not long before that, the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-to-ban-bitcoin-atm-operators\">announced<\/a> its intention to ban the operation of Bitcoin ATMs.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"noreferrer noopener\">ForkLog Feed<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"noreferrer noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Treasury has announced plans to legalise stablecoins and gradually recognise them as a lawful means of payment.<\/p>\n","protected":false},"author":1,"featured_media":59603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1213,807,810],"class_list":["post-59602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nft","tag-stablecoins","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59602"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59602\/revisions"}],"predecessor-version":[{"id":59604,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59602\/revisions\/59604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59603"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}