According to BlockBeats, on October 2, British Finance Minister Tulip Siddiq is pushing the UK to start issuing "digital gilts" on the blockchain. However, a former minister and several department officials familiar with the discussions revealed that the Debt Management Office (DMO), the executive agency of the Ministry of Finance responsible for issuing and managing government bonds, opposed the move. Officials said Siddiq was determined to move forward to combat the risk of the UK being "left behind" by its global peers.

A finance ministry official briefed on the discussions said: “There has been some resistance to reform but Tulip doesn’t see any specific reason why it shouldn’t be done. In the long term this is where we want to be. We are not keeping pace with the rest of the world and there is a risk of being left behind.” (FT)