Former UK prime minister Liz Truss announced her resignation last week just 45 days after his assumption into office.
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Crypto-Friendly Sunak Chosen as New UK Prime Minister
On Monday, Sunak was elected by his fellow conservative members to replace Truss who was forced to quit her role as the country’s prime minister after her economic stimulus plan quickly unraveled causing economic and political instability.
Meanwhile, the newly elected prime minister Sunak has served the country as a finance minister under the former prime minister Boris Johnson.
During Sunak’s time as the finance minister, he unveiled plans that will see the country as the international hub for crypto, he then assisted in ushering in the Financial Services and Markets Bill, the Bill which if passed, could help local regulators to have more power over the crypto industry.
The Liz Truss-led administration has shown commitment to Sunak’s plans but her recent resignation may be a threat to these plans.
The local crypto industry that has however been in touch with Sunak when he was the country’s finance minister is reported to receive a warm welcome from the crypto community as the new leader of the country.
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