According to ChainCatcher news, as reported by CoinDesk, the UK opposition Labour Party has stated that if the party comes to power after the expected general election this year, it will strive to make the UK a center for tokenization of securities, promote a digital pound, and support the financial services industry. A document titled "Financing Growth" outlines the Labour Party's plans for the financial sector, which include transforming the UK into a sustainable financial center, expanding regional financial hubs, and embracing fintech innovation.UK Prime Minister Rishi Sunak has indicated that the general election may take place in the second half of this year. The Conservative government has previously introduced a number of policies related to the digital asset space; however, the Labour Party is currently leading in the voting intention polls. The Labour Party, in a document presented by Shadow Chancellor Rachel Reeves and Shadow Economic Secretary Tulip Siddiq, stated: "Tokenization (U.K. Finance) defines it as 'the digital representation of financial assets using distributed ledger technology,' which presents a significant new opportunity for the UK."

ChainCatcher news, Aztec Labs responded to the Bank of England and the UK Treasury's consultation on the digital pound, stating that by leveraging zero-knowledge proofs and its proprietary tool Noir, it can ensure that the digital currency complies with AML, CTF, and KYC requirements. Aztec Labs' response aims to incorporate privacy-enhancing technologies (PET) into the infrastructure of the digital pound.It is reported that in February 2023, the Bank of England and the UK Treasury published a consultation paper titled "The Digital Pound: A New Form of Money for Households and Businesses?." ChainCatcher previously reported that [Aztec](https://www.rootdata.com/zh/Projects/detail/Aztec Network?k=MjczNQ==) announced the launch of a hybrid zkRollup network, with plans to go live on a public testnet by early 2024. (Source link)

ChainCatcher news, UK regulators announced on Monday that the Bank of England is beginning further research and development on a digital pound for purchasing goods and services. The central bank and the country's Treasury hope to involve the public in its digital pound initiative and will release a consultation paper for public feedback on Tuesday.According to insiders, the Bank of England plans to conduct its own experimentation and design phase over the next two years, after which it will decide whether to establish a digital pound. The pilot testing of the central bank digital currency is not expected to start until at least 2025. (CoinDesk)

ChainCatcher news, according to Reuters, the European Investment Bank (EIB) has announced that it has collaborated with BNP Paribas, HSBC, and Royal Bank of Canada Capital Markets to issue the first digital bond denominated in pounds on a private blockchain. The EIB stated that this £50 million ($61.6 million) floating-rate bond is registered on a private blockchain, while a public blockchain mirror record will enhance transparency on an anonymous basis. (Source link)

ChainCatcher news, according to Reuters, UK Financial Services Minister Andrew Griffith recently stated that properly designing the digital pound is more important than a quick launch. China has advanced its digital yuan pilot, and the European Central Bank is studying the digital euro, which puts pressure on the UK to keep up with advancements in financial technology.It is reported that the UK Treasury will conduct a public consultation on the attributes of the digital pound in the coming weeks. (source link)

ChainCatcher news, a UK Treasury minister stated in a parliamentary meeting that the digital pound platform will enable authorities to understand banks rather than users. In the coming weeks, the UK government will collaborate with the Bank of England to publish a consultation document on the UK's central bank digital currency.Economic Secretary to the Treasury Andrew Griffith testified to a parliamentary select committee that if the UK decides to pursue a retail-focused central bank digital currency [CBDC], it would be a platform model that does not allow the government to understand individual transaction data. He assured Members of Parliament that intermediaries like banks would issue wallets that individuals can use. The government will not understand the behavior of end users unless existing measures to prevent money laundering or fraud are taken. (source link)