- Rishi Sunak has taken office as UK Prime Minister following the resignation of Liz Truss.
- During the government of Prime Minister Boris Johnson, the new prime minister was an important support for the leader and prior to COVID-19 he had assured that he wanted to turn the island into one of the capitals of the world of cryptocurrencies.
- Rishi Sunak was Minister of Finance is the son of Indian immigrants and will be the youngest in office, at 42, in almost two centuriesyes
As the British public is still coming to terms with the death of Queen Elizabeth II, who was on the throne for 70 years and died at the age of 96 on September 8, the people were dealt another unexpected blow with the early departure of Prime Minister Liz. Truss.
But this political change can mean positive news for the crypto ecosystem since his place will be taken by Rishi Sunak, a British politician, who seems to be somewhat close to cryptocurrencies.
Liz Truss resigns from her position
Truss announced his resignation just six weeks after taking office, which is one more sign of the deep crisis that the United Kingdom is going through. He took office after the departure of Boris Johnson on September 6, but was never able to contain the “political and economic chaos”. Thus, the Conservative Party turned its back on him and had no choice but to give someone else a chance.
“I set out a vision of a high-growth, low-tax economy that would take advantage of the freedoms of Brexit. However, I recognize that, given the situation, I cannot fulfill the mandate for which I was elected by the Conservative Party”, explained who became the one who lasted the least in office.
Sunat with a pro crypto vision
Sunak, who had lost the internee to Truss, will take over and could turn Britain around, with cryptocurrencies heavily involved. The former finance minister is the son of Indian immigrants and will be the youngest in office, at 42, in almost two centuries. Furthermore, there was never a prime minister from an ethnic minority as there will be in this case.
The new prime minister, who indicated “I will serve with integrity and humility”, was an important support for Boris Johnson and prior to COVID-19 He had assured that he wanted to turn the island into one of the capitals of the world of cryptocurrencies. His wish, at that time, did not materialize and now he can have the opportunity from an even more leading position than the previous one.
“yesunak helped introduce the Financial Services and Markets Act, which, if passed, could give local regulators sweeping power over the cryptocurrency sector, starting with including asset-margined cryptocurrencies such as stablecoins in the scope of payment regulations”, highlighted the site CoinDesk.
As Chancellor of the Exchequer, Sunak gave The Royal Mint, the national mint, the task of creating a collection of NFTs. This, which for the moment has not seen the light, could be resumed.
Adam Jackson, policy director at Innovate Finance, a UK technology industry body, was very pleased with Sunak’s appointment, calling him a “champion of fintech”.
“It is a positive thing for cryptocurrencies and the economy in generalsaid Ian Taylor, director of industry lobby group CryptoUK.
As for the personal, Sunak studied at the University of Oxford and did a master’s degree at Stanford University. There he met his now wife, Akshata Murty, daughter of Narayana Murthy, an Indian billionaire and co-founder of Infosys, dominator of artificial intelligence services.
Will Sunak achieve his desire to transform the UK into a crypto capital? Your first actions will probably show a roadmap for what’s next.
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