Economy Minister Andrew Griffith told the British Parliament that after consulting with the Chief Treasury, the Royal Mint has decided not to issue NFTs and temporarily abandon the project.
“We have not seen sufficient evidence that our voters should invest their money in speculative tokens unless they are willing to risk losing all their money. That is why the Royal Mint, in conjunction with the Treasury, has made this decision,” said Harriet Balwin, Chairman of the Select Committee at the Treasury.
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According to some parliamentarians, the government was forced to abandon the project under pressure from criticism from the opposition.
“Common sense has finally forced a government out of touch with reality to focus on the cost-of-living crisis without wasting taxpayers’ time and money on the vain NFT project and the promotion of dubious stablecoins,” said Shadow Cabinet spokesman Tulip Siddiq.
The politician explained that in the almost 12 months since the announcement of the Royal Mint NFT project, the Mint has not presented a visualization of the proposed non-fungible token or any technical explanation of how the token will work, what it will offer users and on what blockchain infrastructure it will be. created.
Previously, a number of conservative politicians, including former finance minister Philip Hammond, have repeatedly called on the UK government to pass laws that would allow the country to become a global center for crypto assets, arguing that this will give a competitive advantage after leaving the EU.
Source: Bits
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