UK pushes digital asset reform… creates 'Digital Asset Champion' position

Uk Jin

Summary

The UK government said it is preparing a major reform plan for reorganizing the digital asset market.
The new Digital Asset Champion position will oversee private sector tokenisation strategies and lead financial market innovation.
The UK plans to phase out paper certificates and move to full digitalisation to establish itself as a tokenisation hub.

The UK government is reportedly preparing a major reform plan to reorganize the digital asset market.

On the 12th (local time), JiCrypto reported that Lucy Rigby, the UK Treasury minister, announced the creation of a new post, the 'Digital Asset Champion'. The post will oversee tokenisation strategies in the private sector and lead financial market innovation.

To this end, the UK will phase out paper certificates and move to full digitalisation. Earlier, the UK government published in July the 'Wholesale Financial Markets Digital Strategy' and presented a market transition plan.

With this reform, the UK plans to establish itself as a hub for tokenisation.