Last week, former British Prime Minister Liz Truss announced that he would resign as leader of the Conservative Party and also resign as prime minister, responsible for the market turmoil caused by the failed tax cut plan, and became the shortest-term prime minister in British history after only 44 days in office. On the 24th, former British Chancellor of the Exchequer Rishi Sunak (Rishi Sunak) successfully won the support of more than 100 members of the Conservative Party to become the party leader and the next Prime Minister without any competition. This is also the first Indian Prime Minister in British history.
Sunak: Efforts to make the UK a global crypto asset hub
Born in 1980, Sunak’s parents were born in Kenya, East Africa, with standard Indian ancestry. He studied at Oxford University, studying politics, philosophy and economics. After graduation, he worked in investment bank Goldman Sachs and two hedge funds. serve.
Sunak, who was then the British Chancellor of the Exchequer from 2020 to 2022, has shown that he is open to digital assets and wants to work hard to make the United Kingdom a global center for encrypted assets. Meanwhile, in April this year, Sunak asked the Royal Mint to create and issue NFTs by this summer.
In addition, in terms of stablecoin regulation, since the crypto market ushered in the devastating collapse of the algorithmic stablecoin UST in May this year, the British Treasury said at that time that it was ready to take further action against stablecoins and include them in the scope of electronic payment supervision. Sunak noted at the time that the plan would “ensure that the UK financial services industry remains at the forefront of technology and innovation.”
Sunak has met with Sequoia Capital partner Douglas Leone this year to discuss the UK’s venture capital sector, according to minutes of a meeting of finance ministers posted on the UK government’s website. In addition, news leaked on Twitter revealed that Sunak actively visited crypto venture capital a16z at the end of last year and participated in roundtable meetings including many crypto companies including Bitwise, Celo, Solana and Iqoniq. With Nake’s appointment, the UK is expected to usher in a more friendly regulatory environment for cryptocurrencies.
UK long-term focus on cryptocurrency regulation
The United Kingdom has long been concerned about the regulation of cryptocurrencies. Former British Prime Minister Tesla has said that he supports cryptocurrencies, and that blockchain and cryptocurrencies can give Britain an economic advantage. The Bank of England said in July that the UK Treasury is working with the central bank, the Payments Systems Regulator (PSR) and the Financial Conduct Authority (FCA) to bring the regulation of stablecoins to the legislative level; while the Financial Stability Board (FSB) ) has also repeatedly called on the UK to develop a new approach to cryptocurrency regulation, and will submit a regulatory plan on stablecoins and cryptocurrencies to the G20 finance ministers and the Bank of England in October.
Post time: Oct-31-2022