\n
The United Kingdom has dropped its plans to launch a government-backed non-fungible token (NFT) aimed at enhancing the country\u2019s approach to crypto assets.<\/p>\n
Andrew Griffith, Economic Secretary of the Treasury, disclosed<\/span> to Parliament that the Royal Mint, tasked with creating the NFT, would not proceed with the plan but would keep the proposal under review.<\/p>\nHM Treasury Cancels NFT Plans<\/h2>\n
Recall that Rishi Sunak, the UK\u2019s Prime Minister and former Chancellor of the Exchequer, asked the Royal Mint to create the NFT in April 2022. The token was scheduled<\/span> to be released by the summer of that year.<\/p>\nThe Royal Mint is the official supplier of the UK\u2019s coins. As the oldest company in t<\/p>\n
he nation, it is a limited company wholly owned by His Majesty\u2019s Treasury.<\/p>\n
The NFT<\/span> launch was part of the ministry\u2019s \u201cforward-looking approach\u201d to crypto, supporting its plans to make the UK a global hub for digital asset investments and technology. However, the Royal Mint faced delays and could not meet the release deadline.<\/p>\nGriffith\u2019s disclosure was in response to a question Chair of the Treasury Select Committee Harriet Baldwin asked in Parliament about the NFT issuance being a part of Sunak\u2019s policy<\/span>.<\/p>\n\n\u201cIn consultation with HM Treasury, the Royal Mint is not proceeding with the launch of a Non-Fungible Token at this time but will keep this proposal under review,\u201d Griffith said.<\/p>\n<\/blockquote>\n
Constituents Could Lose all Their Money: Baldwin<\/h2>\n
Further, a BBC report<\/span> quoted Baldwin, saying that the \u201cNFT for Britain\u201d project could lead constituents of the UK to lose all their money due to the speculative nature of such tokens.<\/p>\n\n\u201cWe have not yet seen a lot of evidence that our constituents should be putting their money in these speculative tokens unless they are prepared to lose all their money. So perhaps that is why the Royal Mint has made this decision in conjunction with the Treasury,\u201d she said.<\/p>\n<\/blockquote>\n
\n
SPECIAL OFFER (Sponsored)<\/span>
\nBinance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).<\/p>\nPrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.<\/p>\n<\/div>\n<\/div><\/div>\n
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The United Kingdom has dropped its plans to launch a government-backed non-fungible token (NFT) aimed…<\/p>\n","protected":false},"author":1,"featured_media":21546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"yoast_head":"\n
UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review - iCoinMarket<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review - iCoinMarket\" \/>\n<meta property=\"og:description\" content=\"The United Kingdom has dropped its plans to launch a government-backed non-fungible token (NFT) aimed...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\" \/>\n<meta property=\"og:site_name\" content=\"iCoinMarket\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-29T04:11:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1201\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"CryptoExpert\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CryptoExpert\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\"},\"author\":{\"name\":\"CryptoExpert\",\"@id\":\"https:\/\/icoinmarket.com\/#\/schema\/person\/b833004b8442f2a803ee5ae3df2916b9\"},\"headline\":\"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review\",\"datePublished\":\"2023-03-29T04:11:00+00:00\",\"dateModified\":\"2023-03-29T04:11:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\"},\"wordCount\":379,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/icoinmarket.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg\",\"articleSection\":[\"NFT News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\",\"url\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\",\"name\":\"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review - iCoinMarket\",\"isPartOf\":{\"@id\":\"https:\/\/icoinmarket.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg\",\"datePublished\":\"2023-03-29T04:11:00+00:00\",\"dateModified\":\"2023-03-29T04:11:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage\",\"url\":\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg\",\"contentUrl\":\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg\",\"width\":1201,\"height\":720,\"caption\":\"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/icoinmarket.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/icoinmarket.com\/#website\",\"url\":\"https:\/\/icoinmarket.com\/\",\"name\":\"iCoinMarket\",\"description\":\"Latest Bitcoin & Cryptocurrency News\",\"publisher\":{\"@id\":\"https:\/\/icoinmarket.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/icoinmarket.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/icoinmarket.com\/#organization\",\"name\":\"iCoinMarket\",\"url\":\"https:\/\/icoinmarket.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/icoinmarket.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2021\/05\/logo.png\",\"contentUrl\":\"https:\/\/icoinmarket.com\/wp-content\/uploads\/2021\/05\/logo.png\",\"width\":537,\"height\":100,\"caption\":\"iCoinMarket\"},\"image\":{\"@id\":\"https:\/\/icoinmarket.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/icoinmarket.com\/#\/schema\/person\/b833004b8442f2a803ee5ae3df2916b9\",\"name\":\"CryptoExpert\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/icoinmarket.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/icoinmarket.com\/wp-content\/litespeed\/avatar\/947372d3ac00681cdd6575f652043b85.jpg?ver=1715957294\",\"contentUrl\":\"https:\/\/icoinmarket.com\/wp-content\/litespeed\/avatar\/947372d3ac00681cdd6575f652043b85.jpg?ver=1715957294\",\"caption\":\"CryptoExpert\"},\"sameAs\":[\"https:\/\/icoinmarket.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review - iCoinMarket","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/","og_locale":"en_US","og_type":"article","og_title":"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review - iCoinMarket","og_description":"The United Kingdom has dropped its plans to launch a government-backed non-fungible token (NFT) aimed...","og_url":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/","og_site_name":"iCoinMarket","article_published_time":"2023-03-29T04:11:00+00:00","og_image":[{"width":1201,"height":720,"url":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg","type":"image\/jpeg"}],"author":"CryptoExpert","twitter_card":"summary_large_image","twitter_misc":{"Written by":"CryptoExpert","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#article","isPartOf":{"@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/"},"author":{"name":"CryptoExpert","@id":"https:\/\/icoinmarket.com\/#\/schema\/person\/b833004b8442f2a803ee5ae3df2916b9"},"headline":"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review","datePublished":"2023-03-29T04:11:00+00:00","dateModified":"2023-03-29T04:11:00+00:00","mainEntityOfPage":{"@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/"},"wordCount":379,"commentCount":0,"publisher":{"@id":"https:\/\/icoinmarket.com\/#organization"},"image":{"@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage"},"thumbnailUrl":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg","articleSection":["NFT News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/","url":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/","name":"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review - iCoinMarket","isPartOf":{"@id":"https:\/\/icoinmarket.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage"},"image":{"@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage"},"thumbnailUrl":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg","datePublished":"2023-03-29T04:11:00+00:00","dateModified":"2023-03-29T04:11:00+00:00","breadcrumb":{"@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#primaryimage","url":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg","contentUrl":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg","width":1201,"height":720,"caption":"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review"},{"@type":"BreadcrumbList","@id":"https:\/\/icoinmarket.com\/uk-treasury-drops-plans-to-launch-nft-keeps-proposal-under-review\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/icoinmarket.com\/"},{"@type":"ListItem","position":2,"name":"UK Treasury Drops Plans to Launch NFT, Keeps Proposal Under Review"}]},{"@type":"WebSite","@id":"https:\/\/icoinmarket.com\/#website","url":"https:\/\/icoinmarket.com\/","name":"iCoinMarket","description":"Latest Bitcoin & Cryptocurrency News","publisher":{"@id":"https:\/\/icoinmarket.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/icoinmarket.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/icoinmarket.com\/#organization","name":"iCoinMarket","url":"https:\/\/icoinmarket.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/icoinmarket.com\/#\/schema\/logo\/image\/","url":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2021\/05\/logo.png","contentUrl":"https:\/\/icoinmarket.com\/wp-content\/uploads\/2021\/05\/logo.png","width":537,"height":100,"caption":"iCoinMarket"},"image":{"@id":"https:\/\/icoinmarket.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/icoinmarket.com\/#\/schema\/person\/b833004b8442f2a803ee5ae3df2916b9","name":"CryptoExpert","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/icoinmarket.com\/#\/schema\/person\/image\/","url":"https:\/\/icoinmarket.com\/wp-content\/litespeed\/avatar\/947372d3ac00681cdd6575f652043b85.jpg?ver=1715957294","contentUrl":"https:\/\/icoinmarket.com\/wp-content\/litespeed\/avatar\/947372d3ac00681cdd6575f652043b85.jpg?ver=1715957294","caption":"CryptoExpert"},"sameAs":["https:\/\/icoinmarket.com"]}]}},"featured_image_urls":{"full":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under.jpg",1201,720,false],"thumbnail":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-150x150.jpg",150,150,true],"medium":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-300x180.jpg",300,180,true],"medium_large":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-768x460.jpg",640,383,true],"large":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-1024x614.jpg",640,384,true],"covernews-slider-full":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-1115x715.jpg",1115,715,true],"covernews-slider-center":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-800x500.jpg",800,500,true],"covernews-featured":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-1024x614.jpg",1024,614,true],"covernews-medium":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-540x340.jpg",540,340,true],"covernews-medium-square":["https:\/\/icoinmarket.com\/wp-content\/uploads\/2023\/03\/UK-Treasury-Drops-Plans-to-Launch-NFT-Keeps-Proposal-Under-400x250.jpg",400,250,true]},"author_info":{"display_name":"CryptoExpert","author_link":"https:\/\/icoinmarket.com\/author\/admin\/"},"category_info":"<a href=\"https:\/\/icoinmarket.com\/category\/nft-news\/\" rel=\"category tag\">NFT News<\/a>","tag_info":"NFT News","comment_count":"0","_links":{"self":[{"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/posts\/21545"}],"collection":[{"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/comments?post=21545"}],"version-history":[{"count":0,"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/posts\/21545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/media\/21546"}],"wp:attachment":[{"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/media?parent=21545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/categories?post=21545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icoinmarket.com\/wp-json\/wp\/v2\/tags?post=21545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}