The token should be ready by the summer, and it is supposedly a part of the ministry’s “forward-looking approach” towards crypto.
The Royal Mint is a government-owned mint that’s responsible for the production of coins for the United Kingdom. While Sunak has shown his support of the technology backing cryptocurrencies, the Bank of England, especially in the face of its Governor – Andrew Bailey – is of the opinion that they are a “front line” for scams.
You only have to ask the question: what do people committing ransom attacks usually demand payment in? The answer is crypto. – said Bailey recently. It appears that Sunak doesn’t share the same stance, which can objectively be classified as short-sighted at best.
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