In a briefing to the Treasury Committee on Jan. 10, Andrew Griffith, the Economic Secretary to the Treasury, maintained that the government still supports the underlying technology responsible for crypto tokens such as Bitcoin.

The committee meeting’s purpose was to discuss the potential risks of supporting a pro-crypto policy, especially in the wake of the FTX collapse.

Griffith said championing cryptocurrency and blockchain technology now is widely predicted to yield economic benefits in the future.

He reiterated objectives to turn the U.K. into a center for “well-regulated technologically advanced financial systems.” At the same time, this vision “absolutely [has] room” for cryptocurrency and blockchain technology.

During the discussion, details of the digital pound also came up. Griffiths confirmed a consultation paper was due to be released in the coming weeks.

(By Samuel Wan)