The British Treasury said in a statement on Thursday that the British government will launch a pilot to use distributed ledger technology to issue digital government bond tools similar to bonds, the Internet reported. "The government will launch a pilot to use distributed ledger technology (DLT) to provide digital government bond tools to demonstrate the government's commitment to innovation in financial services," the country's finance ministry said. DLT is the basic technology for cryptographic assets, and each node can save and update data. Tulip Siddiq, the UK Treasury Secretary for Economy, said Labour will soon announce its plans for the cryptocurrency space. Bloomberg quoted unnamed sources as saying that the Labor Party is likely to continue to follow in the footsteps of the former ruling Conservative Party and enact stablecoin and equity pledge legislation.