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

The country's Ministry of Finance said: "The government will launch a pilot to use distributed ledger technology (DLT) to provide digital government bond instruments to demonstrate the government's commitment to innovation in the financial services sector." DLT is the underlying technology of crypto assets, and each node can save and update data. Tulip Siddiq, the UK Treasury's economic secretary, said the Labour Party will soon announce its plans in the cryptocurrency field.

Bloomberg quoted unnamed sources as saying that the Labour Party is likely to continue to follow in the footsteps of the former ruling Conservative Party and formulate stablecoin and equity pledge legislation.