UK Government Vetoes Royal Mint’s Launch of Digital Gold After CME Exit

Her Majesty’s Royal Mint, the institution responsible for producing physical coins for circulation in Britain, has been unable to launch its gold-backed cryptocurrency after the government vetoed the project, Reuters reports Oct. 25.

As reported, the Royal Mint had first unveiled it project to issues as much as $1 billion worth of digital gold tokens, dubbed Royal Mint Gold (RMG), back in 2016, which were to be traded on a blockchain-based platform run by U.S. exchange CME. Blockchain tech firm BitGo was set to be responsible for developing RMG’s multi-signature crypto wallet.

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