Britain’s new prime minister, Rishi Sunak, aimed to reunite the Conservative Party and allow the country to return to stability. The haphazard nature of the UK political landscape over the past few years.
As a former banker and married to one of India’s richest heirs, there’s been a lot of speculation about what. Sunak’s attitude towards the world of cryptocurrencies isespecially in the face of the pound’s declining relevance on the world stage.
Snack’s Virgin Speech
In Sunak’s maiden speech as prime minister, he reiterated that the country has many issues to grapple with and that he is “undaunted” by what awaits him.
“I will put economic stability and confidence at the center of this government’s agenda.
At the very least, his attempts to calm the market are considered very positive for the country.
Sunak promised to deliver on the manifesto pledges that meant the Conservative Party was elected to power in 2019, and has attempted to calm markets by paying off government debt and not passing this debt on to future generations. keep trying.
Prime Minister Snak endorsed CBDC
Unfortunately, despite his support for greater stability in the UK, Sunak’s time as finance minister was marked by a period when the economy suffered greatly thanks to lockdown policies. I was. He is said to have opposed many of these measures during his tenure, but given that he was a member of the Cabinet during this time, he was bound by the responsibility of the Minister.
Additionally, perhaps more concerning to the cryptocurrency industry, Sunak appears keen to keep the fiat currency status quo as long as possible, not only supporting the CBDC but working with the Bank of England to establish it. The fact is that it has announced that “Britcoin”.
UK’s new prime minister is pushing hard to introduce CBDC
— Bitcoin Magazine (@BitcoinMagazine) October 24, 2022
As explained by Dan Tubb and James Delingpoel, there is nothing remotely revolutionary about CBDC other than opening the door to a dystopia. No, but mismanagement and dystopia are far more likely given the affront to personal property rights and the total lack of privacy. CBDC is some of the most blatant expression of Mises’ central money plan, strongly at odds with both conservative values and the aforementioned manifesto of consistency.
Matt Hancock is a strong proponent of crypto
However, there are members of Congress who have professed an interest in the cryptocurrency world.
Most notably, Matt Hancock (who is not only infamous for being Health Secretary during lockdown) talks about the benefits cryptocurrencies bring to the UK and the benefits of making the UK a global crypto hub. That’s it.
Hancock’s Brother makes several investments in his own fintech and cryptocurrency companyit is understood that Matt himself has not invested in these.
Nonetheless, he has made several speeches at Commons on the benefits of the industry and has joined industry leaders in advocating for the movement at various events.
Unfortunately, He was ridiculed by Sunak yesterday After the new Prime Minister is proclaimed, his efforts may have less impact than expected.
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