The U.K.'s Labour party has outlined plans to make the country a hub for securities tokenization and promote the Bank of England's work on a digital pound. The party's "Financing Growth" document also includes making the U.K. a sustainable finance hub, scaling regional finance centers, and embracing fintech innovation. The party is currently leading in the polls ahead of an expected general election this year. The plans have been welcomed by lobby group CryptoUK.

The results of the U.K.'s digital pound consultation were released on Thursday, with privacy being a major concern. Experts believe that the proposed platform model and legislation could address these concerns effectively. The U.K.'s approach to privacy in relation to the digital pound has been praised by industry insiders. While many responses to the consultation welcomed the proposed design, privacy was a key issue raised by respondents. The government has committed to consulting further with the public before making a decision on the digital pound's future.