What will the arrival of Rishi Sunak mean for Great Britain? What does this mean for the country’s future crypto policy? It remains to be seen whether Sunak’s aim of making the UK a “global hub for crypto asset technology” will be realized.
Former Chancellor of the Exchequer and Treasury Chief Rishi Sunak recently resigned from Prime Minister Boris Johnson’s administration. It improved his chances of being elected the Prime Minister. Sunak’s position in crypto is broadly positive.
Sunak won the second round of the competition with 101 votes. Penny Mordaunt is his closest rival, with 83 votes, and Foreign Secretary Liz Truss has 64 votes.
The former finance minister is well-known for keeping the UK financial services industry at the forefront of technology and innovation.
We previously reported that USDT’s Tether is preparing to launch “GBP₮” tokens denominated in British Pound Sterling.
Sunak also supported the idea of a possible ‘Britcoin’, as the UK central bank recently hinted that there is no ‘Red Line’ against the central bank digital currency (CBDC).
Sunak, on the other hand, stated in a LinkedIn post that while the government wants to support innovation and technology, it also wants to ensure continued access to cash and that the UK CBDC would exist as a complement to those and not as a replacement.
