Crypto-Friendly Rishi Sunak to Become UK Prime Minister Following Truss Resignation

    Sunak, when finance minister, revealed initiatives to make the country a global crypto powerhouse.

    After Liz Truss’s controversial resignation last week, the British people have chosen Rishi Sunak, the former finance minister who oversaw the country’s new crypto ambitions, to lead them as their next Prime Minister.

    On Monday, Sunak was elected by his Conservative Party colleagues to succeed Truss, who resigned after 45 days in office when her economic stimulus plan rapidly unraveled and caused political and economic instability.

    Sunak, who served as finance minister under then-Prime Minister Boris Johnson, declared his intention to make the United Kingdom a crypto hub during his tenure. He was instrumental in introducing the Financial Services and Markets Bill, which, if enacted, would grant local regulators extensive authority over the cryptocurrency industry.

    Truss’s government had promised to back Sunak’s crypto initiatives, but her departure posed a fresh disruption. During his time as finance minister, the local crypto industry communicated with Sunak about crypto policy, so his appointment as prime minister is likely to be well received.

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