According to the economic secretary of the Treasury, the government is thinking about establishing a national cryptocurrency or “digital pound.”
According to Andrew Griffith, the UK is dedicated to becoming a global center for cryptocurrencies.
Furthermore, the establishment of a framework for the widespread use of stablecoins for payment purposes was “a long way down the road,” according to the administration.
Stablecoins are intended to be backed by conventional currencies or assets like gold and have a predictable value.
