UK PM and finance minister back crypto and blockchain | Crypto

UK PM and finance minister back crypto and blockchain

-Kwasi Kwarteng, former head of the U.K.s department for business, energy and industrial strategy, has been appointed as the new finance minister by Liz Truss, the new Prime Minister of Britain.
-He has been charged with decisions that will impact British and global crypto markets.
-Sunak, the former finance minister, was a proponent of crypto asset technologies and had stated plans to foster the country as a global hub for crypto asset technology before his resignation in July.
-It is unclear to what extent Kwarteng shares Sunaks sentiment on the digital assets.
-In a 2021 report from Kwartengs previous department, blockchain solutions were identified as part of the technological innovation needed to transform the British economy in the future.
-In July, the department for business, energy and industrial strategy under Kwarteng announced a 53 million British pound (US$61.3 million) fund for supporting competitiveness through digital tech, including the use of blockchain technologies in supply chains.

GettyImages 1408617569 UK PM and finance minister back crypto and blockchain

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