UK Treasury Supports Blockchain and Tokenization in Finance

According to Odaily, the UK Treasury has announced its support for the exploration of distributed ledger technology (DLT) and asset tokenization solutions in wholesale financial markets. This initiative aims to promote the widespread application of blockchain technology in the financial sector. The government plans to establish a regulatory framework for cryptocurrency technologies, having already released a draft legislation on stablecoins in April this year. Additionally, regulatory bodies will test stablecoins and other digital payment solutions within a newly established digital securities sandbox.