The UK Treasury will launch a pilot to issue digital government bonds using distributed ledger technology

ChainCatcher news, according to Coindesk, the UK Treasury stated in a statement on Thursday that the UK government will launch a pilot program to issue digital government bond instruments similar to bonds using distributed ledger technology.

The Treasury stated: "The government will launch a pilot program to provide digital government bond instruments using distributed ledger technology (DLT) to demonstrate the government's commitment to innovation in the financial services sector." DLT is the underlying technology for crypto assets, where each node can store and update data. UK Treasury Economic Secretary Tulip Siddiq stated that the Labour Party will soon announce its plans in the cryptocurrency sector.

Bloomberg cited unnamed sources as saying that the Labour Party is likely to continue following in the footsteps of the previous ruling Conservative Party by developing legislation for stablecoins and staking.