Rishi Sunak promises to fix the UK’s broken economy, will crypto have its place?

Last week, acting UK Prime Minister Liss Truss announced his resignation, 45 days after taking office.

The United Kingdom is a great country but we face a profound economic crisis.

That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister.

I want to fix our economy, unite our Party and deliver for our country. pic.twitter.com/BppG9CytAK

– Rishi Sunak (@RishiSunak) October 23, 2022

According to the latest developments, former British Chancellor Rishi Sunak will likely take over. In his recent tweet, Sunak announced that he would do everything in his power to protect the ailing British economy. Rishi Sunak wrote :

The United Kingdom is a great country but we are facing a deep economic crisis. That’s why I’m running to be the leader of the Conservative Party and your next Prime Minister. I want to turn our economy around, unite our party and get things done for our country.

However, the British Conservative Party has yet to make a final decision, with former Prime Minister Boris Jhonson back in the race. In his draft message, Sunak says the “opportunities” ahead are phenomenal. However, the pro-crypto PM candidate did not talk about the exact opportunities he sees in the future to fix Britain’s broken economy.

Rishi Sunak’s appointment as PM to the office could be great news for crypto mavericks in general, however. In the past, he has been open to embracing cryptographic innovation and moving Britain towards economic freedom.

Making the UK a crypto-currency hub

Earlier this year, in April, Rishi Sunak proposed some key steps to make the UK the hub of crypto-currency technology. The UK government has already outlined measures that will help businesses to “Invest, innovate and grow” in the cryptographic space.

If Rishi Sunak sticks to his plans, we can expect more regulatory clarity in this space. As we’ve seen recently, large crypto companies like Coinbase have set up shop in the UK and open crypto policies could encourage more companies to set up shop.

“We want to see the businesses of tomorrow – and the jobs they create – here in the UK, and by regulating effectively, we can give them the confidence they need to think and invest for the long term“, said Rishi Sunak.