United Kingdom: The new Prime Minister is pro-crypto

Liz Truss served as Prime Minister of the United Kingdom for just 45 days. Faced with the failure of its economic recovery plan, she was forced to resign. Another Prime Minister was then chosen from within the Conservative Party on Monday. Whoever replaces Liz Truss promises to make the UK a benchmark in crypto. Find out who is the next Prime Minister of the country.

Rishi Sunak to replace Liz Truss as prime minister

Liz Truss’s stint as Prime Minister has been rather controversial. Faced with the political and economic instability that this has caused, it was necessary to choose a new Prime Minister for the United Kingdom. The choice therefore fell on Rishi Sunak, who served as finance minister when Boris Johnson was prime minister.

Rishi Sunak’s take on crypto

Sunak’s plan for transform the country into an international center in the crypto sector, is well known. Indeed, the politician had presented it while he was still Minister of Finance. That said, the announcement of his appointment has generated positive reactions, including that of Adam Jackson.

The Director of Policy at Innovate Finance has effectively made it sound that Rishi Sunak is a “fintech champ“. The appointment of the former finance minister also pleased Ian Taylor, a senior executive at CryptoUK. For Taylor, it is a “positive element for crypto and the general economy“.

The next Prime Minister’s achievements so far

When he was finance minister, Sunak played a key role in passing a major Financial Services and Markets Bill. The project aimed to give more power to local regulators when it comes to overseeing the crypto industry. In particular, it involves including stablecoins in the list of assets concerned by payment regulations.

The new Prime Minister loves cryptos

Additionally, Sunak contributed to the launch of a project to create an NFT collection. The establishment of this collection, on which the developers are still working, has been entrusted to the Royal Mint. The latter happens to be the UK coin producer.

When she became Prime Minister, Liz Truss made it clear that blueprints from Sunak in crypto would continue. Last month, his government proposed a bill to crack down on cybercrime in the crypto sector. Sunak now replaces Liz Truss, which is also a delight for several crypto players in the United Kingdom.

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