Cryptocurrency supporter becomes UK Prime Minister

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On October 25, the former head of the Treasury of His Majesty Rishi Sunak became the new Prime Minister of Great Britain. In his previous position, he was remembered for his benevolent attitude towards cryptocurrencies.

In 2020, the department he heads began developing regulation of stablecoins and announced studies in the field of central bank digital currencies (CBDC).

Innovation can make payments cheaper and faster, Sunak said.

In April 2022, he stated that he aims to turn the UK into a “global hub for crypto asset technology”.

At the same time, Sunak instructed the Royal Mint to issue NFTs, and the Treasury announced plans to legalize stablecoins.

However, in May, amid the collapse of Terra, the agency ruled out the use of algorithmic stablecoins as payment mechanisms. The Treasury also thought about additional measures to protect against disasters of “stablecoins” like UST.

Twitter users recalled that Sunak easily navigates popular NFT collections. In a flash poll, he preferred Bored Apes over Crypto Punks. But of the two leading cryptocurrencies, I chose both – Bitcoin and Ethereum.

Sunak left Treasury in July. As prime minister, he succeeded Liz Truss, who occupied his record short time of 45 days.

Sunak himself set two historic achievements with one entry into office: he became the youngest head of government (42 years old) and the richest. He and his wife are worth an estimated £780m, according to the Washington Post.

Most of the amount falls on Akshata Murthy, due to his father’s stake in the multinational corporation Infosys (capitalization of $ 77.77 billion). The prime minister’s wife also runs a successful business of her own.

Recall that in June, the idea of ​​Rishi Sunak to turn the UK and the capital London into a “cryptocenter” was supported by the Ministry of Digital Technologies, Culture, Media and Sports.

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