Rishi Sunak, Former Pro-Crypto Finance Minister, Becomes UK’s Next Prime Minister

After the sudden resignation of Prime Minister Liz Truss, Britain once again has a Prime Minister after the country’s Conservative Party came to an accord.

His name is Rishi Sunak, and he served as finance minister to the UK under former PM Boris Johnson.

While he served as minister, Sunak pushed the idea of turning the UK into a crypto hub, helping to usher in the Financial Services and Markets Bill. If passed, the bill could give local regulators broad powers over the crypto industry.

As minister, he tasked the Royal Mint with creating the country’s first non-fungible token (NFT) collection, which has yet to come to pass.

Sunak’s assent marks the Conservative Party’s third opportunity to appoint a leader without putting it to a general election, something SNP’s Westminster leader Ian Blackford noted after the announcement of Sunak’s win.

“The Tories cannot be allowed to impose a third prime minister without a general election. Voters must get a say and the SNP is determined to ensure they do.”

Sunak still has to meet with King Charles, where he will formally be asked to form a government. This marks King Charles’ first opportunity to appoint a prime minister as King.