{"id":1204,"date":"2022-10-27T14:29:18","date_gmt":"2022-10-27T14:29:18","guid":{"rendered":"https:\/\/guardarian.com\/blog\/?p=1204"},"modified":"2026-03-17T09:03:09","modified_gmt":"2026-03-17T09:03:09","slug":"will-uk-become-a-global-crypto-hub","status":"publish","type":"post","link":"https:\/\/guardarian.com\/blog\/will-uk-become-a-global-crypto-hub","title":{"rendered":"Will UK Become A Global Crypto Hub?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">You\u2019ve probably heard it by now &#8211; <\/span><b>Liz Truss<\/b><span style=\"font-weight: 400;\">, the British prime minister, resigned after just<\/span><b> 44 days<\/b><span style=\"font-weight: 400;\"> in the office. This makes her the shortest-serving British prime minister in history.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><iframe loading=\"lazy\" class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/tIXlExypfMjHq1vQTX\" width=\"503\" height=\"220\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p><b>Rishi Sunak<\/b><span style=\"font-weight: 400;\">, a conservative party member, became the new PM on the 25th of October.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And while the media is focused on Sunak\u2019s first steps in dealing with the UK\u2019s profound economic crisis, there is <strong>another development<\/strong> that has many crypto investors rubbing their hands in excitement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today we are talking about Mr. Sunak\u2019s plans to turn the UK into an <\/span><b>international crypto hub<\/b><span style=\"font-weight: 400;\">.<\/span><b>\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">When will that be? Will it even happen? And what facts do we have?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep reading to find out! \ud83d\udc47<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Rishi Sunak and the Royal Mint<\/b><\/span><\/h2>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1223\" src=\"https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/25093325357_1837664b87_b.jpeg\" alt=\"Rishi Sunak - Will uk become a global crypto hub?\" width=\"507\" height=\"313\" srcset=\"https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/25093325357_1837664b87_b.jpeg 1024w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/25093325357_1837664b87_b-300x185.jpeg 300w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/25093325357_1837664b87_b-768x475.jpeg 768w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/25093325357_1837664b87_b-980x606.jpeg 980w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/25093325357_1837664b87_b-480x297.jpeg 480w\" sizes=\"auto, (max-width: 507px) 100vw, 507px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Before becoming the youngest PM to take office, Rishi Sunak served as Chief Secretary to the Treasury and Minister of Finance between 2019 and 2022. And throughout his years in the parliament, he has expressed <strong>very favorable views<\/strong> on cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Last April, when he was still a finance minister, Sunak asked the Royal Mint, the maker of British coins, to create their own NFT. \ud83e\ude99<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Royal Mint later <a href=\"https:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360\" rel=\"nofollow noopener\" target=\"_blank\">officially announced<\/a> their willingness to carry on with this plan. They stated that this announcement is a part of a broader push to turn the UK into a crypto hub. \ud83c\uddec\ud83c\udde7<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Though Royal Mint haven\u2019t released any updates since spring, there are <\/span><a href=\"https:\/\/inews.co.uk\/news\/rishi-sunak-nft-project-going-ahead-market-collapse-crypto-1935873#:~:text=The%20Treasury%20declined%20to%20comment%20on%20the%20status%20of%20the%20NFT%20project%20but%20sources%20told%20i%20it%20has%20not%20been%20quietly%20killed%20off%2C%20claiming%20the%20project%20is%20still%20in%20development.\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">sources<\/span><\/a><span style=\"font-weight: 400;\"> confirming that the project <strong>has not<\/strong> been abandoned.<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Making UK a Crypto Hub<\/b><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Rishi Sunak said that it is <strong>his ambition<\/strong> to turn the UK into a global hub for crypto technology. He also said that making the UK a Crypto Hub will ensure that crypto firms can <\/span><b>invest, innovate and scale up<\/b><span style=\"font-weight: 400;\"> in the country. \ud83d\udcc8<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the measures the British government named was adding <strong>stablecoins<\/strong> into the UK payment system by recognizing them as a <strong>valid form of payment<\/strong>. John Glen, the State Secretary stated in April that this would establish a <\/span><b>world-leading<\/b><span style=\"font-weight: 400;\"> regulatory regime for stablecoins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Of course, there is always a flip side. It is important to note that Sunak has in the past <\/span><a href=\"https:\/\/twitter.com\/hmtreasury\/status\/1448589590999281668\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">supported<\/span><\/a><span style=\"font-weight: 400;\"> the idea of implementing a <\/span><b>CBDC<\/b><span style=\"font-weight: 400;\"> in the UK.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CBDCs, or central bank digital currencies are a concept that many blockchain supporters are critical of, since it promotes centralization and gives more power to the central banks. \ud83e\udd28<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Crypto Regulations Bill<\/b><\/span><\/h2>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1224\" src=\"https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b.jpeg\" alt=\"British Parliament - Will UK become a global crypto hub?\" width=\"531\" height=\"332\" srcset=\"https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b.jpeg 1000w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b-300x188.jpeg 300w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b-768x481.jpeg 768w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b-400x250.jpeg 400w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b-980x613.jpeg 980w, https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/8737181202_cb0877a41c_b-480x300.jpeg 480w\" sizes=\"auto, (max-width: 531px) 100vw, 531px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">On 25th of October, British lawmakers voted in favor of regulating the financial promotion and trading of all crypto assets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lisa Cameron is a member of the parliament and the chairperson of The Crypto and Digital Assets All-Party Parliamentary Group. She explained to the media that there is a lot of education and work to be done in the crypto space.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interestingly, the new bill introduces a term \u201cDigital Settlement Assets\u201d instead of \u201ccrypto assets\u201d, DSA for short. \ud83e\uddd0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">She explained that the term crypto assets implies using distributed ledger technology, or DLT. DSA, however, includes stablecoins as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Of course, to be scribed into law, the bill will have to be first approved by The House of Lords, after which it will need to be approved by King Charles III himself.<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Conclusion<\/b><\/span><\/h2>\n<p style=\"text-align: center;\"><iframe loading=\"lazy\" class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/hEVcewqTaqKmXbIvbP\" width=\"522\" height=\"250\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">Though it is going through some hard times financially, the United Kingdom is now on the verge of regulating cryptocurrencies and setting up the landscape for becoming one of Europe\u2019s cryptocurrency adoption leaders. \ud83d\udcaa<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And if before the country only had individual members of parliaments rooting for crypto adoption, now there is Rishi Sunak as prime minister on their side, not to forget political groups like the one lead by Lisa Cameron.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So&#8230; will Rishi Sunak make UK a crypto haven? We don&#8217;t know. But we do know that now is the most favourable time for this to happen, so you should definitely keep your <a href=\"https:\/\/twitter.com\/Guardarian_com\" rel=\"nofollow noopener\" target=\"_blank\">eyes open<\/a>. \ud83d\ude09<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">And if you are thinking about investing into crypto assets (or should we say DSAs \ud83d\ude01), then you should definitely check out <a href=\"https:\/\/www.guardarian.com\">Guardarian<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On our platform you can buy and sell over 300 different cryptos with <\/span><b>no registration<\/b><span style=\"font-weight: 400;\"> and <\/span><b>no hidden fees<\/b><span style=\"font-weight: 400;\">!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And of course, with us you are guaranteed the <strong>highest security possible<\/strong>. So come check us out at <\/span><a href=\"https:\/\/www.guardarian.com\"><span style=\"font-weight: 400;\">www.guardarian.com<\/span><\/a><span style=\"font-weight: 400;\"> and as always &#8211; good luck and safe investing! \u2728<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You\u2019ve probably heard it by now &#8211; Liz Truss, the British prime minister, resigned after just 44 days in the office. This makes her the shortest-serving British prime minister in history.\u00a0 Rishi Sunak, a conservative party member, became the new PM on the 25th of October. And while the media is focused on Sunak\u2019s first [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[174],"tags":[],"class_list":["post-1204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-news-and-insights"],"uagb_featured_image_src":{"full":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920.jpg",1920,1275,false],"thumbnail":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920-300x199.jpg",300,199,true],"medium":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920.jpg",1920,1275,false],"medium_large":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920-768x510.jpg",768,510,true],"large":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920-1807x1200.jpg",1807,1200,true],"1536x1536":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920-1536x1020.jpg",1536,1020,true],"2048x2048":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920.jpg",1920,1275,false],"rpwe-thumbnail":["https:\/\/guardarian.com\/blog\/wp-content\/uploads\/2022\/10\/bitcoin-gea666a307_1920-45x45.jpg",45,45,true]},"uagb_author_info":{"display_name":"guardarian_admin","author_link":"https:\/\/guardarian.com\/blog\/author\/guardarian_admin"},"uagb_comment_info":5,"uagb_excerpt":"You\u2019ve probably heard it by now &#8211; Liz Truss, the British prime minister, resigned after just 44 days in the office. This makes her the shortest-serving British prime minister in history.\u00a0 Rishi Sunak, a conservative party member, became the new PM on the 25th of October. And while the media is focused on Sunak\u2019s first&hellip;","_links":{"self":[{"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/posts\/1204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/comments?post=1204"}],"version-history":[{"count":15,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/posts\/1204\/revisions"}],"predecessor-version":[{"id":4192,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/posts\/1204\/revisions\/4192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/media\/1216"}],"wp:attachment":[{"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/media?parent=1204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/categories?post=1204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/guardarian.com\/blog\/wp-json\/wp\/v2\/tags?post=1204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}