British Finance Minister: Digital Gilt issuance will not go through the Debt Management Office

Odaily Planet Daily News, UK Chancellor of the Exchequer Tulip Siddiq recently confirmed plans to pilot the issuance of digital Gilt bonds (DIGIT) using Distributed Ledger Technology (DLT), equivalent to UK government bonds. It further stated that the pilot program will be part of the digital securities sandbox, but it is not under the jurisdiction of the Debt Management Office responsible for all operations of government bonds and treasury bonds in Phnom Penh. Before announcing this news, FT reported that despite opposition from the Debt Management Office (DMO), Siddiq still hopes to push forward with DIGIT. The report quoted a former minister and several department officials as saying that the DMO is resisting this move.