Top “UK Crypto Hub” proponent Rishi Sunak to become prime minister

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Rishi Sunak, who pre­vi­ous­ly spear­head­ed the UK’s cryp­to hub ambi­tions as the country’s finance min­is­ter, or Chan­cel­lor of the Exche­quer, won the race to lead the Con­ser­v­a­tive Par­ty on Mon­day fol­low­ing Liz Truss’ res­ig­na­tion from her posi­tion last week after 45 days in office. 

See relat­ed arti­cle: New UK PM, finance min­is­ter have pre­vi­ous­ly sup­port­ed cryp­to, blockchain

Fast facts

  • “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,” Sunak tweet­ed after secur­ing the posi­tion fol­low­ing rival Pen­ny Mordaunt’s with­draw­al from the race.
  • The for­mer Chan­cel­lor of the Exche­quer will be chal­lenged by the UK’s tur­bu­lent econ­o­my, which the Bank of Eng­land says is cur­rent­ly in reces­sion
  • In July, Sunak helped intro­duce the Finan­cial Ser­vices and Mar­kets Bill, which seeks to reg­u­late sta­ble­coins as pay­ment meth­ods and give the Bank of Eng­land over­sight over dig­i­tal asset ser­vice providers.

See relat­ed arti­cle: UK seeks to reg­u­late sta­ble­coins for pay­ments in new mar­kets bill



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