Rishi Sunak is now taking over the position of Liz Truss as the new Prime Minister of the United Kingdom (UK) following her resignation due to severe criticism received regarding her failure to manage fiscal policy.
Sunak is said to be a supporter of the crypto industry as he handled the Financial Services Bill while serving as the Minister of Finance in order to give the domestic regulator an advantage in delving into the crypto market.
As such, he acted to create additional regulations to further develop these digital assets within the UK's economic and legal framework including encouraging greater investment.
In fact, Sunak also intends to develop the country into a crypto hub by making a UK Royal Mint token.
The string, the token serves as the creation of a non-fungible token (NFT) that will enter the market soon after completion by this summer.
It is explained that Sunak's open acceptance of blockchain technology to transform the financial market will make him one of the most important leaders in the world.
Meanwhile, he also gave strong support to the central bank's digital currency (CBDC), Britcoin, after it was able to offer payments using new methods.
Due to the following, he announced that the Treasury and the central bank will study CBDC more deeply so that it can benefit fiat money and bank deposits.
However, most libertarian crypto advocates oppose the idea of creating a digital version of legal tender due to concerns about financial surveillance.
