The UK promotes the development of Distributed Ledger technology and asset tokenization.

[The UK promotes the development of Distributed Ledger technology and asset tokenization] The UK Treasury has announced its support for wholesale financial markets to explore the best Distributed Ledger Technology (DLT) and asset tokenization solutions, promoting the widespread application of Blockchain technology in the financial sector. The government plans to establish a regulatory framework for encryption technology and has released a draft legislation concerning stablecoins this April. At the same time, regulators will test stablecoins and other digital payment solutions in the newly established digital securities sandbox.

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