Rishi Sunak Wants to Make Britain a Global Crypto Investment Hub

• Rishi Sunak Takes Office as U.K. Prime Minister
• Liz Truss resigned after 44 days in office 
• Sunak formally accepted his new role from King Charles

Rishi Sunak, a former Chancellor of the Exchequer in Britain, has been appointed prime minister. He will take over from Liz Truss, who resigned after 44 days in office. Previously, the Conservative Party’s leader stated: My goal is to establish the United Kingdom as a global center for crypto asset technology.

Rishi Sunak Takes Over as Prime Minister of the United Kingdom Rishi Sunak has taken over as prime minister of the United Kingdom. He previously held the positions of chief secretary to the Treasury and chancellor of the exchequer for the United Kingdom from 2019 to 2022.

The government will explore ways of enhancing the U.K. tax system

After winning the leadership of the Conservative Party, Sunak officially accepted his new position from King Charles during a meeting on Monday at Buckingham Palace.

Because of his efforts to make Britain a global hub for crypto asset technology and investment, as the U.K. government announced in April, many people have characterized Sunak as pro-crypto.

In addition, the British government stated that it will see stablecoins recognized as a valid form of payment as part of wider plans to make Britain a global hub for crypto asset technology and investment. This assurance was made by the British government. 

In addition, Sunak commissioned the Royal Mint to create a non-fungible token (NFT), and the government stated that it would examine ways of enhancing the competitiveness of the U.K. tax system to encourage further development of the crypto asset market in the U.K.

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The new prime minister is also pro – CBDC

Sunak stated that they want to see the businesses of tomorrow — and the jobs they create — here in the United Kingdom. This is one component of our strategy to keep the UK financial services industry at the forefront of technological advancement and innovation.

In January, Sunak also stated that crypto assets can present exciting new opportunities for people looking for new ways to invest and transact, but it’s critical that consumers aren’t sold products with false promises. They support innovation in the crypto asset market while also ensuring that customers are protected.

However, the fact that the new prime minister is also in favor of central bank digital currencies (CBDCs) has worried some crypto advocates. 

As the G7 released a report on the topic in October of last year, he explained how CBDCs could benefit consumers and businesses. Additionally, Sunak established a task force to oversee the United Kingdom’s work on a digital central bank currency.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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