Crypto-friendly Rishi Sunak becomes UK prime minister

Touted as a friend of the cryptocurrency industry, the former Chancellor of the Exchequer will now be replacing Liz Truss as UK prime minister.

Former UK chancellor Rishi Sunak has become the UK’s Prime Minister after Liz Truss announced that she would step down.

Both Truss and Sunak gunned for former Prime Minister Boris Johnson’s job after he was caught in the midst of a public scandal that forced him out of office.

Sunak was one of the first ministers from Johnson’s cabinet to revolt and urge his boss to step down in the summer.

Now, Sunak is finally taking over at Downing Street and he is largely seen as the better choice. Sometimes criticized about his excessive wealth, Sunak is a self-made man.

He is also a friend to the cryptocurrency industry and has not made his plans about the UK’s crypto future secret.

During his stint as Chancellor of the Exchequer, Sunak repeatedly said that he wanted to turn the country into a cryptocurrency hub, a title that is now fought for by France and a few other nations in Europe.

Sunak was instrumental in the passage of the Financial Services and Markets Bill, giving local regulators power over the crypto industry, and he even tasked the Royal Mint to create a non-fungible token (NFT) collection.

Overall, Sunak has been very willing to embrace the cryptocurrency industry and has understood the need for regulators and lawmakers not to hinder its progress.

Sunak seems to be the best man for the job following the embarrassing circumstances in which Johnson and Truss were forced to step down.

He will have to do right not just by the crypto industry, but by an entire country that is looking on expectantly.

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Written by Alex


Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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