New UK Prime Minister Named Crypto-Friendly Official

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Rishi Sunak has previously stated his intention to turn the United Kingdom into a global hub for the crypto industry.
During his stay atAs UK Chancellor of the Exchequer, back in former Prime Minister Boris Johnson's cabinet, Rishi Sunak helped parliamentarians draft the Financial Services and Markets Bill. The law, if passed, could give local regulators the power to support and monitor the activities of crypto companies. Starting with the inclusion of stablecoins in the sphere of government-regulated payments. Under Sunak's leadership, the Royal Mint has begun creating its first in-house collection of non-fungible tokens (NFTs).

The UK crypto community positively assesses the prospects for the development of the industry under the new head of government.

“This is positive for both crypto and the wider economy,” said Ian Taylor, head of lobby group CryptoUK.

In September, UK lawmakers introduced
a bill onaddressing “privacy concerns” and giving law enforcement the power to “compel businesses to hand over information that may be related to money laundering or terrorist financing using crypto assets.” It is planned to expand the powers of the authorities in the fight against cryptocurrency crimes and simplify the procedure for seizing and freezing assets.