![\"Rishi](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/10\/sunak-768x432.jpg\")
<\/p>\n<\/p>\n
Britain\u2019s former Chancellor of the Exchequer Rishi Sunak has become the country\u2019s new prime minister, succeeding Liz Truss who resigned after 44 days in office. The leader of the Conservative Party previously said: \u201cIt\u2019s my ambition to make the U.K. a global hub for cryptoasset technology.\u201d<\/strong><\/p>\n Rishi Sunak, who served as Britain\u2019s chancellor of the exchequer from 2020 to 2022 and chief secretary to the Treasury from 2019 to 2022, has become the prime minister of the U.K. He succeeded Liz Truss<\/a>, who resigned after 44 days in office as prime minister.<\/p>\n Sunak formally accepted his new role from King Charles during a meeting at Buckingham Palace on Monday after winning the Conservative Party leadership.<\/p>\n Many people have called Sunak pro-crypto for his efforts to make Britain \u201ca global hub for cryptoasset technology and investment,\u201d as announced<\/a> by the U.K. government in April. He said at the time:<\/p>\n It\u2019s my ambition to make the U.K. a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/p>\n<\/blockquote>\n The British government also affirmed that it will \u201csee stablecoins recognized as a valid form of payment as part of wider plans to make Britain a global hub for cryptoasset technology and investment.\u201d Moreover, the government noted that it \u201cwill explore ways of enhancing the competitiveness of the U.K. tax system to encourage further development of the cryptoasset market in the U.K.\u201d Sunak also commissioned the Royal Mint to create a non-fungible token (NFT).<\/p>\n \u201cWe want to see the businesses of tomorrow \u2014 and the jobs they create \u2014 here in the U.K., and by regulating effectively we can give them the confidence they need to think and invest long-term,\u201d Sunak opined. \u201cThis is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation.\u201d<\/p>\n Sunak also said in January:<\/p>\n Cryptoassets can provide exciting new opportunities, offering people new ways to transact and invest \u2013 but it\u2019s important that consumers are not being sold products with misleading claims. We are ensuring consumers are protected, while also supporting innovation of the cryptoasset market.<\/p>\n<\/blockquote>\n However, the new prime minister is also pro-central bank digital currencies (CBDCs), which has caused concerns among some crypto advocates. In October last year, he explained<\/a> how CBDCs could benefit businesses and consumers as the G7 issued a report on the subject. Sunak also set up a taskforce to lead the U.K.\u2019s work on a central bank digital currency.<\/p>\nRishi Sunak Takes Office as U.K. Prime Minister<\/h2>\n
\n
\n