The UK government will launch a pilot program for a digital gilt instrument, similar to a bond, using distributed ledger technology (DLT), according to the Treasury. The announcement is seen as a move by the Labour Party to reassure companies of its pro-innovation stance. The pilot program will be unveiled by Finance Minister Rachel Reeves during her first Mansion House speech, which is an opportunity for the minister to outline long-term visions. The government's statement emphasizes its commitment to innovation in the financial services sector. The Labour Party is expected to reveal its plans for the crypto sector soon, with reports suggesting it will follow in the footsteps of the former ruling Conservatives and introduce legislation for stablecoins and staking.



Other News from Today