The UK says “yes” to cryptocurrencies as a valid method of payment – El Financiero

The Ministry of Economy United kingdom She announced Monday that she plans to formalize some Digital currencies Stable as a “valid method” of payment.

This is part of a package of measures to make the country a Global Investment Centre And the development of associated technologies cryptoassets.

The British government thinks so Stable cryptocurrenciesDigital assets, whose value is tied to traditional currencies such as the US dollar, can offer…Efficient payment methods and expanding choices for consumers“.

In this sense, the British executive has confirmed that it will explore the possibility of using decentralized database technology, similar to that used by the government. Bitcoin and other cryptocurrencies, as a basis for improving “Efficiency, transparency and flexibilityFor the financial markets in the United Kingdom.

In particular, the potential benefits of using these techniques within sovereign debt instruments will be evaluated.

“We want to see the companies of tomorrow, and the jobs they will create, here in the UK. Through effective regulation we can give them the confidence they need to think and think Invest for the long termsaid Chancellor of the Exchequer Rishi Sunak.

My ambition is to make the UK a global hub for crypto asset technologies.. He added: “The measures we announced today will help ensure companies are able to invest, innovate and grow in this country.”

Likewise, they indicated that they would review the associated taxes Loans and other financial services with cryptocurrencies between individualsKnown as decentralized finance (Decentralized financein English), among other measures.

For his part, Minister of State for the Economy John Glen confirmed in a speech he delivered at the exhibition FinTech Week London that aspires to make the United Kingdom “A hospitable place for cryptocurrencies“, in order to “attract investments, generate many job opportunities and create a wave of innovative new products and services.”

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“If there is one message I want to get across today it is that the UK is open for business, open com. cryptobusinessGlenn confirmed.

However, he admitted that cryptocurrencies “It has proven attractive to criminals and hostile countries“.

He also stressed that there is concern about Environmental impact For some digital mining operations Digital currenciesWhat are you asking for? Large amounts of energyThey stressed that they will “study in detail” these aspects to also promote the United Kingdom as “The world’s leading center for green finance“.

Despite the potential risks, Glenn emphasized, “Huge potential“Which he sees in crypto assets.

“We want to make sure we have the opportunity to make the most of it. We will not lower our standards, but we will maintain a technology-neutral perspective,” the Foreign Minister added.

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