Many outlets have reported Rishi Sunak could be one of the possible replacements for Boris Johnson, suggesting that crypto regulations could be central to the government’s agenda.
Boris Johnson, who has been the prime minister of the UK since 2019, said he can step down as leader of the country’s conservative party but can stay head of state till a replacement has been found.
In a speech in front of ten Downing Street in London on Thursday, Johnson said “it is clearly currently the desire of the Parliamentary party, that there should be a new leader of that party and so a new prime minister,” with a transition timetable set to be declared next week. The prime minister added that he would stay in government, as would recently-appointed cupboard members, to serve till the party decided on a new leader.
Many in Johnson’s government and opposing political parties had called for his resignation following reports the prime minister knew former deputy chief whip Chris Pincher had allegedly groped two men however selected to push him to a senior position. This week, Chancellor of the cash in hand for the UK Rishi Sunak and Economic Secretary to the Treasury John vale both announced they might be going away their positions in Johnson’s cupboard in response to his handling of the allegations, as did more than fifty members of parliament before the prime minister’s speech on Thursday.
Nadhim Zahawi, a member of parliament for town since 2010, has taken for Sunak as chancellor of the exchequer. At the time of publication, the U.K. government had not declared a replacement for vale, who said in his resignation letter that “vital reforms" to the country’s money services were able to be given to parliament.
Under Johnson, who took workplace 3 years agone, the U.K. government and restrictive agencies adopted several policies largely favorable to crypto companies, but conjointly addressed doable risks and misuse of the innovative technology. The country’s Advertising Standards Authority illegal several crypto corporations from advertising publically areas, citing the need to warn investors of volatile crypto prices.
The U.K. executive department has conjointly created pushes to include stablecoins used as a method of payment into the country’s existing restrictive framework, operating with the money Conduct Authority, the agency responsible for responsible for firms to “carry out crypto plus activities.” At the time of publication, the FCA has approved 35 corporations to work in the U.K. in compliance with Anti-Money washing and Combatting the funding of terrorism rules.
( Turner Wright, Cointelegraph, 2022 )