UK tech pros reject government's crypto hub plans
— Reject, Stablecoin, Stablecoins, Governments, Crypto, Chancellor, Plans, Pros, Token, Tech — 1 min read
Rishi Sunak wants to make Britain a global center for crypto-asset technology and investment. 58 percent of IT pros said they felt the profession should not support the Treasury's plan. Just 29 percent said working technologists should get behind the crypto project, while 13 per cent were neutral. Only 14 percent of tech experts surveyed said the former Chancellor was right to ask the Royal Mint to launch an NFT this summer. Stablecoins have played a key role in the collapse of cryptocurrencies in general. The total cryptocurrency market cap has been chopped in half since May, falling from around $1.7 trillion to about $900 billion as of late June. At the same time, pegging a blockchain-enabled token may not be the panacea Source