UK welcomes new Prime Minister who wants to make the country a global center for crypto-tech

The UK’s new prime minister is apparently a fan of digital assets, saying he wants to make the country a hub for crypto tech.

According to the New York Times, Rishi Sunak, 42, the son of Indian immigrants, has become the first person of color to lead Britain and his leadership comes in tough economic times.

In his former role as UK Chancellor of the Exchequer, the government’s top finance minister, Sunak spearheaded initiatives to encourage the crypto industry.

In April, he announced the creation of a “Crypto asset Engagement Group”, made up of representatives from industry and regulators, to advise the government on how to approach digital assets. He also requested analysis on ways to change tax policies to encourage the growth of the cryptocurrency market.

“I have the ambition to make the UK a global hub for crypto-asset technology, and the measures we have outlined today will help ensure businesses can invest, innovate and scale. scale in this country. We want to see the businesses of tomorrow – and the jobs they create – here in the UK, and by regulating effectively we can give them the confidence they need to think and invest for the long term. This is part of our plan to ensure that the UK financial services industry is always at the forefront of technology and innovation. »

Another expression of his support for cryptocurrencies was to order the Royal Mint to create an NFT (non-fungible token).

Chancellor Rishi Sunak has asked RoyalMintUK to create an NFT which will be issued by summer. This decision shows the forward-looking approach we are determined to take towards crypto-assets in the UK. »

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