• After Boris Johnson’s departure, Rishi Sunak was the first to officially enter the race. 
  • He advocated for stablecoins to be legally recognized in the UK.

Former Boris Johnson Chancellor of the Exchequer Rishi Sunak is the first contender for Prime Minister of the United Kingdom. To become the party leader, Sunak needed to receive 100 public nominations, a threshold he successfully reached. Rishi Sunak’s goal is to establish London as Europe’s crypto capital.

After Boris Johnson’s departure, Rishi Sunak was the first to officially enter the race. Nonetheless, Liz Truss won the party election and replaced him as prime minister. But now that Truss has resigned as CEO after just 45 days on the job, Sunak is once again in the driver’s seat. The former UK finance minister Sunak is popular among crypto enthusiasts there.

Definitely has a Huge Impact 

Sunak, the British government’s then-finance minister, aimed to make the country “the crypto hub of the world.” He advocated for stablecoins to be legally recognized in the UK as a means of exchange. Another goal of his was to provide DAOs (Decentralized Autonomous Organizations) the protection of the law. In addition, he requested that the Royal Mint create an NFT.

Truss said that the party will be voting on a new prime minister within a week’s time. Several members of parliament have come out in support of Sunak, making him the apparent frontrunner once again. In any case, it seems like Sunak will have to compete against Boris Johnson, his former boss. Johnson has shown a willingness to run again, and a number of members of parliament have come out in support of him. The developments that will unfold will definitely make a huge impact on the market worldwide.

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