New Prime Minister Looks to Make the U.K. a Blockchain Hub

Known cryptocurrency proponent Rishi Sunak will take over as the United Kingdom’s prime minister following the resignation of Liz Truss, who was in office for just 45 days.

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Sunak has lead plans to make the United Kingdom a hub for blockchain technology and advocated for stablecoins to be recognized as a form of payment.

“It’s my ambition to make the UK a global hub for cryptoasset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country,” Sunak said in a statement.

“This is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation.”

The son Indian immigrants, Sunak will be the first person of color to lead the country. And at 42-years-old, he will be the youngest British prime minister in more than 200 years.

Sunak has previously raised eyebrows in the British parliament after he asked the Royal Mint, the creator of British coins, to create NFTs as a way to demonstrate the UK’s commitment to devling into cryptocurrency technology.

Although it is unclear how the UK Conservative Party will respond to Sunak’s pro-crypto leanings once he is in office, the newly elected prime minister tweeted that he plans to “fix our economy, unite our Party and deliver for our country.”

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