The UK dreams of becoming the 'King of Crypto' among the countries of the world. Countries that leave the European Union will mine their own non-fungible tokens (NFT).
It is part of the UK government plan to become a world leader when it comes to cryptocurrencies. The UK Treasury has asked the Royal Mint, the government-owned company responsible for mining coins in the UK, to launch an NFT this summer.
This was said by the city Minister and Secretary of the Economy, John Glen at a fintech event in London as reported by CNBC
NFT are digital assets that represent ownership of virtual goods such as artwork or video game avatars using blockchain, the technology that underpins many cryptocurrencies. The appeal of NFT has grown tremendously over the past year thanks to interest from celebrities and big companies.
England does seem very serious in this field. They have prepared a number of steps regarding the development of crypto there. Among other things such as bringing Stablecoin into regulation on electronic payments, asking legal commissions to consider the legal status of blockchain-based communities.
Then form a Cryptoasset group which will be chaired by British ministers and regulators as well as stakeholders in the crypto business. To enable the application of blockchain technology in issuing debt instruments.
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