The UK Promotes the Development of Distributed Ledger Technology and Asset Tokenization

The UK Treasury has announced that it will support wholesale financial markets in exploring the best Distributed Ledger Technology (DLT) and asset tokenization solutions to promote the widespread application of blockchain technology in the financial sector. The government plans to establish a regulatory framework for crypto technology and issued a draft stablecoin-related law in April of this year. At the same time, regulators will test stablecoins and other digital payment solutions in the newly established digital securities sandbox. [Odaily Planet Daily]