UK treasury drops plans for government-backed NFT
The U.K. Treasury has decided not to launch a government-backed non-fungible token (NFT) in order to make the country a major center for the cryptocurrency industry.
The U.K. Prime Minister Rishi Sunak was supposed to release the coin when he was chancellor in April 2022, but the Royal Mint ran into trouble. The Royal Mint had previously announced plans for employing blockchain technology to track its gold supplies in 2017.
Andrew Griffith, the economic secretary for the UK, said in a statement on Monday that the plans are ...