The UK government has failed to: Confirmed plans to launch a non-fungible token (NFT). UK Prime Minister Rishi Sunak has asked the Royal Mint to create a “NFT for the UK” while serving as Treasury Secretary last year as part of efforts to make the UK a global hub for cryptocurrency technology and investment. I requested.
Britain withdraws her NFT plan
Parliamentarian Harriet Baldwin, chairman of the House of Commons Finance Select Committee and member of the NATO Parliament, said the Finance Minister asked the following: It remains the policy of his department for the Royal Mint to issue non-fungible tokens. The Royal Mint, wholly owned by Her Majesty’s Treasury, is the official mint of Great Britain and the maker of British coins.
In response to Baldwin’s question on Monday, Treasury Secretary Andrew Griffiths said:
In consultation with HM Treasury, the Royal Mint will is a fungible token, but this proposal is under consideration.
The current Prime Minister, Rishi Sunak, commissioned the Royal Mint to create “his NFT for the UK” in April last year while he was Chancellor of the Treasury. The project was part of his ambition to make the UK a “global hub for cryptocurrency technology and investments”.
Regarding the government’s cancellation of his NFT his project, Mr. Baldwin said: … Perhaps that is why the Royal Mint, in collaboration with the Treasury, made this decision. ”
His Tulip Siddiq, Member of Parliament, welcomed the decision to discontinue the NFT project. “We’re glad the Royal Mint finally made the Conservatives understand what made sense, but we’ve been asking the Prime Minister for months to drop this cryptographic gimmick.” Elaborating, she emphasized that:
Contactless government should focus on the cost of living crisis, saving time and taxpayer money to NFT vanity. Don’t waste your money on promoting mind projects and dubious stablecoins.
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