Rishi Sunak pursued a positive policy for cryptocurrencies when he was the finance minister.
Rishi Sunak of the Conservative Party will become the new Prime Minister of Great Britain today. Adobe Stock / AOP
A new prime minister has taken the reins of stormy British politics Rishi Sunak is a well-known cryptocurrency advocate. The Conservative Party chose Sunak as its leader on Monday, after confidence in the former prime minister To Liz Truss collapsed as a result of a failed tax cut project.
CoinDesk according to the Prime Minister’s crypto favoritism became apparent when he served as Minister of Finance Boris Johnson in the government. Sunak wanted to turn Great Britain into a cryptocurrency center whose legislation would favor trading with virtual currencies.
Sunak was involved in guiding the new law on financial services and markets, which, if implemented, would give local authorities extensive opportunities to regulate cryptocurrencies and payments made with them. In addition, during Sunak’s time as finance minister, the country’s government began to develop its own nft collection, which is still incomplete.
Sunak resigned as Chancellor of the Exchequer in July, but Liz Truss’s government was also committed to Sunak’s cryptocurrency plans.
Trussi’s resignation after only 45 days, however, threatened to cause turbulence in the smoothness of the plans. The crypto industry has welcomed Sunak to his new position as Prime Minister of Great Britain.
– This is positive for cryptos and the economy in general, rejoices the director of the crypto industry lobbying organization CryptoUK Ian Taylor.
Today, October 25, Sunak will meet the king Charles’s and he is officially appointed as Prime Minister.