Rishi Sunak wants London as the next global crypto hub

london hub crypto

In early July, Sunak resigned from his role as finance minister sparking the reactions that led to Boris Johnson‘s resignation.

London’s finances must rise again: will it be the next global crypto hub?

London aims to become the next global hub for the crypto sector

At the beginning of July, the now former UK finance minister, Rishi Sunak, while aware of the personal repercussions and on the UK government, chose to resign. 

The choice was due to conduct he felt was too superficial on the part of former Prime Minister Boris Johnson. 

In Sunak’s view, some appointments and persons appointed to perform certain tasks were too incompetent. 

This neglect of the government machinery for Sunak is a huge problem that would have brought serious damage to the country. 

Hoping to shake up the country and against his own interest, the former minister chose the path of resignation:

“I recognize that this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning”.

This path eventually proved successful, at least in Sunak’s goals, and led to a series of further resignations, such as that of Health Minister Sajid Javid. 

This series of major earthquakes in the line of power forced Boris Johnson to resign, as the country lost credibility and power over its government. 

Sunak’s plans included a series of laws and maneuvers designed to turn the UK into a worldwide hub for every known crypto, a kind of paradise for digital currencies. 

Rishi Sunak’s plan

The strange case is that precisely when the political career of a resigning minister seemed at the gates, the latter makes a comeback as a candidate to be the new tenant of No. 10 Downing Street. 

Sunak himself is rumored to be one of the next candidates to lead the country, and this would bring a huge booster to the entire crypto industry, which would see another country so important in the global chessboard to become crypto friendly. 

The news has only recently been leaked, but already some insiders and keen observers have reported it, such as, for example, Bitcoin Archive, which says on Twitter that the next British prime minister could be a supporter of Bitcoin.

A sentence from a speech by Sunak:

“It’s my ambition to make the UK a global hub for cryptoasset technology”.

The post Rishi Sunak wants London as the next global crypto hub appeared first on The Cryptonomist.