Set out a pro-innovation strategy for blockchain and stablecoins

Summary

Publish a strategy for blockchain & stablecoins. We want this to: 1. Drive a pro-innovation stablecoin & tokenisation regulatory regime e.g. support interest bearing stablecoins & preserve role as wholesale settlement asset 2. Explore Govt uses for blockchain 3. Appoint a blockchain & crypto czar For centuries London was the centre of global trade and finance. We consider that the future is digital where equities, bonds and real world assets exist as tokens - tradeable 24/7, instantly, globally. We consider stablecoins to be the basis of a tokenised economy; the US has ruled out CBDCs and is leaning into stablecoins. The UK is at a crossroads and we believe it will fall behind without a strategy. This is a question of national interest to preserve the competitiveness of the City and sterling’s global standing.

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