New UK PM Once Spoke Of Cryptoasset Goals

October 26, 2022

Newly appointed British Prime Minister Rishi Sunak once said it his “ambition to make the UK a global hub for cryptoasset technology” and also asked the Royal Mint UK to create an NFT.

Prime Minister Sunak previously served as Chancellor of the Exchequer, akin to our position of Finance Minister, and while in that position earlier this year, the HM Treasury announced plans “that will see stablecoins recognised as a valid form of payment as part of wider plans to make Britain a global hub for cryptoasset technology and investment.”

“Measures include legislating for a ‘financial market infrastructure sandbox’ to help firms innovate, an FCA-led ‘CryptoSprint’, working with the Royal Mint on an NFT, and an engagement group to work more closely with industry.”

In April of this year, then Chancellor Sunak said “It’s my ambition to make the UK a global hub for cryptoasset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up 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 long-term,” he added.

In April of this year, the UK HM Treasury announced that Mr Sunak had “asked the Royal Mint UK to create an NFT to be issued by the summer” saying “this decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK.”

Prime Minister Sunak’s appointment sparked interest with media outlets that focus on crypto, with Coindesk running an article titled “Crypto-Friendly Rishi Sunak to Become UK Prime Minister,” while CoinTelegraph posted an article headlined “Wealthy crypto believer and incoming UK PM Rishi Sunak once commissioned a royal NFT.”

The Bermuda Government has also aimed to faciliate new business in the cryptoasset genre.

Read More About

Category: All, technology