Ministry of Economy great Britain announced this Monday that it plans to formalize several cryptocurrencies stable as a “legal form of payment”.

This, as part of a package of measures to make the country a global center for investment and related technological developments crypto assets.

The British government considers that stablecoinsdigital assets whose value is tied to traditional currencies such as the US dollar, can offer “efficient payment methods and broaden choices for consumers”.

In this regard, the UK Executive assured that they would explore the possibility of using decentralized database technology, similar to that used by bitcoins and other cryptocurrencies, as a basis for increasing “efficiency, transparency and resilienceof the financial markets in the United Kingdom.

In particular, it will assess the potential benefits of using this technology within the framework of sovereign debt instruments.

“We want to see the businesses of the future, and the jobs they will create, here in the UK. By managing effectively we can give them the confidence they need to think and invest for the long term”, stressed the Minister of Economy, Rishi Sunak.

“My ambition is to make the UK a global hub for crypto asset technology.. The steps we are announcing today will help ensure that companies can invest, innovate and grow in this country.”

They also indicated that they would review the taxation associated with loans and other financial services with cryptocurrencies between individualsknown as Decentralized Finance (DeFiin English), among other steps.

Meanwhile, the Secretary of State for the Economy, John Glen, stressed in his speech at the exhibition FinTech Week from London who aspired to create Great Britain”a friendly place for cryptocurrencies”, to “attract investment, create lots of jobs, and create a wave of innovative new products and services”.

“If there is one message I want to make clear today, it is that the UK is open for business, open for cryptobusinessGlen emphasized.

However, he acknowledged that cryptocurrencies “has proven attractive to both criminals and hostile nations”.

He also emphasized that there are concerns about environmental impact of several digital mining processes cryptocurrenciesWhat do you need huge amount of energyand assured that they would “study in detail” these aspects in order to also promote the UK as a “the world’s leading center for green finance”.

Despite the potential danger, Glen stressed “great potential” that he feels in crypto assets.

“We want to make sure that we have the opportunity to make the most of it. We will not lower our standards, but we will maintain a technologically neutral perspective,” added the Minister of Foreign Affairs.