UK Treasury plans to pilot digital government bonds using distributed ledger technology” loading=”lazy” class=”w-full”/>
- “We are launching a pilot program for digital gilt securities (British bonds) using distributed ledger technology (DLT),” the UK Treasury said in a statement.
- Labor took power in July but has said little about its plans for crypto assets since then. The party is trying to use the finance minister’s speech to demonstrate to companies that it is committed to promoting innovation.
The UK Treasury announced in a statement on November 14 that it will launch a pilot program to issue digital gilt securities using distributed ledger technology (DLT). Gilt securities are government bonds issued by the United Kingdom.
Rachel Reeves, Chancellor of the Exchequer, announced on the 14th, in her first Mansion House Speech (a speech in which the Chancellor of the Exchequer explains the state of the economy at the Mayor’s residence in London), that she would undertake a fundamental review of the regulatory system in the financial services sector. Ta. According to Reuters, Mr Reeves has set out five key initiatives to maximize the growth potential of UK financial services: capital markets and fintech, sustainability finance, asset management and wholesale services, and insurance and reinsurance. The company announced that it will present specific growth strategies in three areas.
The Mansion House Speech is the once-a-year opportunity for the Chancellor of the Exchequer to set out her long-term vision. Labor took power in July but has said little about its plans for crypto assets since then. The UK Treasury statement appears aimed at reassuring businesses that it is committed to promoting innovation following the election of crypto-friendly Donald Trump.
“The UK government will introduce a pilot of digital gilt securities using distributed ledger technology (DLT), demonstrating the government’s commitment to innovation in the financial services sector,” the Treasury said in a statement. DLT is a technology that underpins cryptoassets that allow each node to retain and update data.
Tulip Siddiq, the economic secretary at the Ministry of Finance, has said that he will soon announce plans for the crypto sector. Bloomberg reports that Labor is likely to follow the path of the previous Conservative Party and introduce legislation on stablecoins and staking.reporting。
｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: On October 30, 2024, UK Finance Minister Rachel Reeves poses in front of the Prime Minister’s Office before submitting the Budget. (Shutterstock)
｜原文：UK Government Plans Pilot for a Digital Gilt Instrument Using Distributed Ledger Technology
