The UK government is actively working towards integrating traditional finance and crypto assets, according to Tulip Siddiq, the Economic Secretary to the Treasury. She highlighted the importance of distributed ledger technology (DLT) in this strategy and mentioned the launch of the Digital Securities Sandbox by the Bank of England and the Financial Conduct Authority. The sandbox will allow companies to conduct regulated transactions using DLT and will also pilot a Digital Gilt Issuance project. The government has introduced the Digital Assets Bill in Parliament to clarify the legalities surrounding digital assets and support innovation. Additionally, plans for a comprehensive regulatory framework for crypto assets and stablecoins are underway, although stablecoins will not be regulated under UK payment regulations at present to allow room for innovation. The government also aims to address legal uncertainty surrounding crypto staking services by changing their treatment in financial law.



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