UK to Launch a Pilot for a Digital Gilt Instrument 

In a statement released on Thursday, the UK government announced plans to launch a pilot program using distributed ledger technology to deliver a digital instrument called “digital gilt,” similar to a bond.

This initiative will be presented by Finance Minister Rachel Reeves during her first Mansion House speech, along with plans to regulate Environmental, Social and Governance (ESG) ratings providers and pension mega funds. Gilts are government bonds issued by the UK government.

The Mansion House Speech is an annual address given by the finance minister to outline their long-term vision.

The Labour Party, which took over government in July, has not disclosed much about their stance on cryptocurrency, but the Treasury’s statement hints at a pro-innovation approach in light of US President Donald Trump’s crypto-friendly victory.