UK Treasury drops plans for Royal Mint NFT
The Economic Secretary of the Treasury told Parliament has confirmed the project has been put on the back burner, but will “keep this proposal under review.” The United Kingdom has shelved plans to launch a government-backed “ NFT for Britain,” which was initially proposed by crypto-friendly Prime Minister Rishi Sunak. While serving as chancellor of the Exchequer, the equivalent of a chief financial minister, Sunak asked the Royal Mint in April 2022 to create an " NFT for Britain" as part of the government’s “ambition to make the UK a global hub for crypto-asset technology and investment.” Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer. This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK — HM Treasury (@hmtreasury) April 4, 2022 The project was meant to be launched by the summer of 2022, but has ultimately failed to meet the deadline. Asked by t...