Incoming UK Prime Minister, Rishi Sunak, is a crypto-supporter.
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Incoming UK Prime Minister, Rishi Sunak, is a crypto-supporter.

The United Kingdom has elected its new Prime Minister, Rishi Sunak, following the resignation of Liz Truss. And like Truss, Sunak is also pro-cryptocurrencies.

In the wake of what could be described as a turbulent time in Britain’s the United Kingdom, the country has elected its new Prime Minister. Sunak is the second prime minister who is pro-crypto following Truss who was Prime Minister for approximately 45 days. The newly elected Prime Minister was chosen by colleagues from the Conservative Party members on Monday and will be the youngest to be an official in more than 200 years. Sunak was a former prime minister of Boris Johnson as Chancellor of the Exchequer and, during his tenure was able to make his passion for blockchain and cryptocurrency recognized. In April Sunak was the Prime Minister. Sunak was the driving force behind plans to transform his country into a U.K. hub for investment and crypto-asset technologies and also pushed for the acceptance of stablecoins as a form of payment. The statement reads:

It’s my goal to create the UK as the world’s leading center for the development of crypto assets, and the measures we’ve proposed today will ensure companies can expand, invest and grow up in the UK. He further said,

This is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation.

Sunak posted on Twitter to announce his plans for becoming the Prime Minister of Pakistan:

The United Kingdom is a great nation, but we are facing an economic crisis that is sweeping across the country. This is why I’m standing as President of the Conservative Party and your next Prime Minister. I’m here to help fix our economy, unify our Party and make a difference in our nation.

The newly-elected Premier is known for requesting for the Royal Mint, the creator of British coins, to develop Non-Future Tokens (NFTs) to show the nation’s dedication to becoming an international center for cryptocurrency. Even though he’s very clear about his plans regarding digital assets, the idea might be put off for a time. Sunak is also confronted with other pressing problems, such as increasing energy costs and a deficit in public finances, and a soaring inflation rate. Additionally, he must form an entirely new cabinet following an official hand-over ceremony that included the King of England Charles, and former Premier Liz Truss.

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Yahya Imran is a crypto trader and blockchain content creator. He was a Campus Ambassador for FTX Africa and worked as a video content creator in the content Department of FTX Africa. He is a professional Video Editor and Video animator. He is the founder of Coinsplug.

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