Rishi Sunak Promises to Fix UK’s Broken Economy, Will Crypto Get A Place

Last week, Britain’s acting PM Liss Truss announced her resignation 45 days into the office. As per the latest developments, Britain’s former chancellor Rishi Sunak will likely take charge. In his recent tweet, Sunak announced that he would do everything in his capacity to protect UK’s ailing economy. Rishi Sunak wrote:

The United Kingdom is a great country but we face a profound economic crisis. That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister. I want to fix our economy, unite our Party and deliver for our country.

However, the British Conservative Party is yet to arrive at a final decision with former PM Boris Jhonson back in the game. In his draft message, Sunak says that the “opportunities” ahead are phenomenal. However, the pro-crypto PM candidate hasn’t spoken about what exact opportunities he sees ahead for fixing Britain’s broken economy.

Sunak’s appointment as PM at the office could, however, be great news for crypto mavericks in general. In the past, he has been open about adopting crypto innovation and steering Britain ahead for economic freedom.

Making UK A Crypto Hub

Earlier this year in April, Rishi Sunka proposed some key steps in making the UK the hub for crypto assets technology. The British government has already outlined measures that will help companies “invest, innovate, and scale up” in the crypto space.

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If Rishi Sunka sticks to his plans we can expect more regulatory clarity in this space. As we have recently seen, big crypto firms like Coinbase have been making a move into the UK and open crypto policies could encourage more companies to set up their base.

“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,” said Sunak.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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