SNEAK PEEK
- The elevation to the power of Rishi Sunak could reignite his plans to launch an NFT with the Royal Mint of the country.
- This came following the win of Rishi Sunak as the backing of Conservative politicians to spearhead the party after the resignation of Liz Truss.
- The move of resignation came amid a protracted period of confusion surrounding crypto regulation in the UK.
As Rishi Sunak was named the new Chair of the Conservative Party of the UK, it paved the way for the former Goldman Sachs analyst to become the first Indian-origin Prime Minister of the United Kingdom. It is expected that the rise to his power could give fuel to his previous plans to launch an NFT with the Royal Mint of the country.
The coronation of Rishi Sunak as the next Prime Minister of the United Kingdom can lay out a possibility for making the country a crypto-friendly nation and put its game back on track. Following the resignation of Liz Truss last week, Sunak is all set to become the 3rd Prime Minister of the UK this year as he won the backing of Conservative politicians to lead the party.
Eyeing back on his tenure as a chancellor between February 2020 and July 2022, Sunak has proven himself open to the possibilities associated with digital assets. What adds more to the favor of cryptocurrencies is the fact that he set out proposals in April this year to make the United Kingdom a crypto-friendly tech hub.
Moreover, he has plans to introduce an official NFT collection, which was earlier dubbed by critics as “poorly judged.”
These moves have come amid a rambling period of confusion surrounding the crypto regulation in the United Kingdom, as companies waited for verdicts from the financial regulator on AML licensing. This process was conducted via the FCA, which stands for the Financial Conduct Authority, and forced several firms to consider their place in the UK market.
