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Article Review - IPD, Rishi Sunak and crypto in the UK

International Policy Digest just published a new article about the appointment of Rishi Sunak as the new PM of the United Kingdom.

Sunak’s rise to power could mean a more positive future for cryptocurrency adoption and the FinTech industry in Britain. He is known as a pro-crypto politician who advocates for blockchain and distributed ledger technologies. Earlier this year, Sunak announced his intention “to make the UK a global crypto-assets hub.”

Sunak's strategy would begin with the establishment of a market infrastructure to let businesses experiment with and advance crypto-asset technologies. The next step would be to create a crypto-asset engagement group, which will work closely with the sector and look into ways to make the UK tax system more competitive in order to promote future growth of the crypto-asset market. Stablecoins would serve as the foundation for the endeavour.

This shows a willingness in European countries to harmonize rules for crypto across the board. We, the EBI initiative question if this pivot in the UK will inspire other nations in the old continent to do the same. What do you think? Do you agree with us? Tell us in the comments.

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