According to CoinDesk, former Prime Minister Boris Johnson sought to make the nation a centre for the cryptocurrency industry.
He contributed to the creation of the Financial Services and Markets Bill, which, if it becomes law, could grant regional regulators broad authority over the cryptocurrency sector.
Bringing asset-driven crypto into the purview of payment legislation, such as stablecoins, is probably where it will start.
The report stated, “Under his supervision, the country’s coin manufacturer, the Royal Mint, was tasked with developing a non-fungible token (NFT) collection, which has not yet materialised.
Sunak has been referred to be a “champion of fintech” by Adam Jackson, director of policy at Innovate Finance.
Ian Taylor, director of the business lobbying organisation CryptoUK, told CoinDesk that it was good for both cryptocurrency and the whole economy.
The financial assistance provided during Covid lockdowns, such as furlough compensation and the restaurant “Eat Out to Help Out” programme, was also the brainchild of Sunak, Johnson’s chancellor.
The next British prime minister will be Sunak, a politician from the Conservative Party who is 42 years old and of Indian heritage.
I swear that I will serve you with integrity and humility, and I will work day in and day out to deliver for the British people, he said in his first, succinct public statement following his elevation.
It will be the first time in US history that a non-white person holds the role of head of state.