Home » Rishi Sunak Becomes UK Prime Minister — He Wants to Make Britain a Global Crypto Investment Hub – Regulation Bitcoin News

Rishi Sunak Becomes UK Prime Minister — He Wants to Make Britain a Global Crypto Investment Hub – Regulation Bitcoin News

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Former UK Finance Minister Rishi Sunak has become the country’s new prime minister, succeeding Liz Truss, who resigned after 44 days in office. “My ambition is to make the UK a global hub for cryptocurrency technology,” the Conservative Party leader previously said.

Rishi Sunak becomes British Prime Minister

Rishi Sunak, who served as UK Chancellor of the Exchequer from 2020 to 2022 and Secretary of the Treasury from 2019 to 2022, has been sworn in as Prime Minister of the United Kingdom. Liz TrussAfter serving as prime minister for 44 days, he resigned.

Sunak formally accepted his new role from King Charles at a meeting at Buckingham Palace on Monday after winning the leadership of the Conservative Party.

Many have dubbed Sunak a crypto advocate for his efforts to make the UK a “global hub for cryptocurrency technology and investments”. announced by the British Government in April. He said at the time:

It is my ambition to make the UK a global hub for cryptocurrency technology and the measures outlined today will help businesses to invest, innovate and scale in the country.

The UK government also asserted that “stablecoins will be recognized as a valid payment method as part of a broader plan to make the UK a global hub for crypto technology and investment.” Furthermore, the government said it would “explore ways to make the UK tax system more competitive in order to facilitate the further development of the UK crypto asset market” and Sunak asked the Royal Mint to create a non-fungible token (NFT). I requested.

“We want to see tomorrow’s business and the jobs it creates here in the UK. Effective regulation can give them the confidence they need to think and invest for the long term. We can,” commented Sunak. “This is part of our plan to ensure that the UK financial services industry remains at the forefront of technology and innovation.”

Sunak also said in January:

Crypto assets offer exciting new opportunities and offer people new ways to trade and invest, but it is important that consumers are not being marketed products with misleading claims. Ensure consumer protection while supporting.

However, the new prime minister is also pro-Central Bank Digital Currency (CBDC), which has raised concerns among some crypto advocates. Last October he explained How CBDC will benefit businesses and consumers when the G7 publishes a report on the topic. Sunak also established a task force to lead the UK’s work on central bank digital currencies.

What are your thoughts on Rishi Sunak becoming Prime Minister of the United Kingdom? Let us know in the comments section below.

Kevin Helms

An Austrian economics student, Kevin has been an evangelist since he discovered Bitcoin in 2011. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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