That is not to claim that the UK government will soon replace the pound with HerMajesty’sCoin. Due to the announcement’s complete lack of facts, it’s easy to dismiss it as a public relations stunt — a way for the Treasury to demonstrate its commitment to establishing the UK as a hotspot of financial innovation and getting “in on the ground floor” with cryptocurrency.
To be fair, it appears as though the UK government is serious about crypto. Glen revealed that the Treasury Department has established a legal task force to examine the “legal status of decentralised autonomous entities” (or DAOs).
