Analytics Insight
ChatSonic: A Chatbot like ChatGPT but with Superpowers
A Complete Guide on Building a Crypto Bot with Python
FTX after the liquidity crisis is seeking to recover funding
How Do You Automate Accounts Receivable?
The 10 Most Impactful Chief AI Officers of the Year 2022
The 10 Most Promising AI Solution Providers of 2022
The 10 Most Inspiring Tech Leaders to Watch in 2022
The Top 10 Most Influential CEOs to Watch in 2022
No products in the cart.
UK Treasury will introduce a national cryptocurrency. The economic secretary to the Treasury said “The government is considering introducing a national cryptocurrency or digital pound.” Andrew Griffith mentioned that the UK was committed to becoming a world crypto hub and the UK Treasury was “a long way down the road to establishing a regime for the wholesale use, for payment purposes, of stablecoins”. Stablecoins are intended to have a predictable value linked to traditional currencies or assets such as gold.
In the upcoming weeks, a public consultation on the characteristics of a digital pound would be undertaken, Mr. Griffith said the Treasury Select Committee. In the Financial Services and Markets Bill, which is now being discussed in Parliament, he added, “I want to see us establish a regime for the wholesale use of stablecoins for payment purposes.” Global central banks are creating or researching digital currencies. “It is right to look to seek to embrace potentially disruptive technology, particularly when we have such a robust fintech and finance sector,” Mr. Griffith further stated before the committee. He wanted to allow the opportunity for this “potentially disruptive game-changing technology that can challenge but also turbocharge all of those [financial] industries”, he said.
It has become more doubtful that any cryptocurrency can ever be regarded as stable due to the “crypto winter,” a sharp decrease in the value of Bitcoin and other assets. Numerous public policy issues could also be brought up by it. Additionally, there will be a consultation with the general public on Britain’s first broad regulatory approach to crypto assets, a field where consumer protection has been under fire recently. The consultation, however, will be a part of a “research and exploration” phase and will aid in the development of the plans over the coming several years by the Bank of England and the government.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
Bitgert is a crypto engineering organisation launched in July 2021 and has grown rapidly with lots of developments and products Bitgert is the most trusted crypto of 2023 and it is expected to become a part of Top 10 cryptocurrencies with a estimated market cap of $10 Billion USDK now more about Bitgert here: https://bitgert.com
Subscribe to our weekly newsletter. Get the latest news about architecture, design, city, and inspiration.
Analytics Insight® is an influential platform dedicated to insights, trends, and opinion from the world of data-driven technologies. It monitors developments, recognition, and achievements made by Artificial Intelligence, Big Data and Analytics companies across the globe.
Related Posts
