September 28, 2022
Britain makes crypto technology a priority for streamlining markets

Gwyneth Nurse, the ministry’s director general for financial services, said the use of distributed ledger technology (DLT), which underpins cryptoassets, is a key priority for making financial market infrastructure more innovative and efficient for users

LONDON – Britain will begin live testing of crypto blockchain technology for traditional market activities such as trading and settlement of stocks and bonds next year as part of a drive to become a global “crypto hub”, the finance ministry said on Tuesday.

Gwyneth Nurse, the ministry’s director general for financial services, said the use of distributed ledger technology (DLT), which underpins cryptoassets, is a key priority for making financial market infrastructure more innovative and efficient for users.

Britain will launch a financial market infrastructure “sandbox” next year for testing DLT projects under control of regulators, Nurse said, a model UK regulators pioneered for nurturing fintech firms. A sandbox is a testing environment for projects involving real customers.

» continue to ZAWYA