UK Treasury drops plans for the introduction of NFT, holds a suggestion under the examination

UK Treasury drops plans for the introduction of NFT, holds a suggestion under the examination

The United Kingdom has dropped its plans for the introduction of a non-fungable token (NFT), which is supported by the government, which aims to improve the country's approach for crypto assets.

Andrew Griffith, Minister of Economic Affairs of the Ministry of Finance, disclosed to the Parliament that the Royal Mint, which is commissioned to create the NFT, will not continue the plan, but will continue to check the proposal.

HM Treasury canceled NFT plans

Remember that Rishi Sunak, the British Prime Minister and former treasure chancellor who asked Royal Mint in April 2022 to found the nft planned by summer of this year.

The Royal Mint is the official supplier of the British coins. As the oldest company in T

The nation is a limited liability company that is completely owned by the Majesty Ministry of Finance.

The NFT The introduction was part of the "future -oriented approach" of the Ministry of Crypto and supported his plans to make Britain a global center for investments and technologies in digital assets. However, the Royal Mint was faced with delays and could not keep the publication period.

Griffith's disclosure took place in the answer to a question that the chairwoman of Treasury Select Committee, Harriet Baldwin, in parliament, which the NFT emission was part of Sunaks .

"In consultation with HM Treasury, the Royal Mint is currently not continuing with the introduction of an unimaginable tokens, but will continue to examine this proposal," said Griffith.

voters could lose all of their money: Baldwin

also a BBC report cited Baldwin with the words that the project "NFT for Britain" could lead to voters in the United Kingdom due to the speculative nature of such tokens.

"We have not yet seen many evidence that our voters should invest their money in these speculative tokens, unless they are willing to lose all of their money. Perhaps the Royal Mint has therefore made this decision with the Ministry of Finance," she said.

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