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How Will UK Plan To Be Crypto Global Hub Without Rishi Sunak?

Cryptocurrency Jul 06, 2022 02:00PM ET
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© Reuters. How Will UK Plan To Be Crypto Global Hub Without Rishi Sunak?

  • Rishi Sunak, UK financial minster, announces his resignation.
  • Sunak plans on making the UK the global hub for crypto.
  • It is unknown whether Sunak’s plan is still in development.

Amid plans for the UK to become the global hub for the crypto industry, Finance Minister Rishi Sunak, has decided to resign from his post.

On July 5, the Finance minister of the UK, Rishi Sunak, announced his resignation. He also shared this news through Twitter (NYSE:TWTR).:

The public rightly expects the government to be conducted properly, competently, and seriously. This may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning.

Based on several sources, Sunak also expressed in his resignation letter that he is “sad to be leaving the government” but has to come to the conclusion that he “cannot continue like this.”

Sources claim that Sunak can no longer remain loyal to the prime minister, Boris Johnson, who compromised his persona by engaging in a disgraceful offer. Along with Sunak, Minister of Health Sajid Javid also tendered his resignation.

Earlier this year, the British government, through Sunak, set out plans to turn the UK into a global hub for the crypto industry. Additionally, Sunak has asked the Royal Mint, a government-owned company that mints coins for the UK, to create and distribute non-fungible tokens (NFT) by summer.

Sunak announced his plans on Twitter:

Sunak then quoted. “It is my ambition to make the UK a global hub for crypto-asset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country.”

Following Sunak’s resignation, it is unknown whether his plan to make the UK the global hub for crypto is still in the works.

Continue reading on CoinQuora

How Will UK Plan To Be Crypto Global Hub Without Rishi Sunak?
 

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