Under the new leader, cryptocurrency remains a priority for the UK, igniting industry excitement.

Despite a recent change in leadership, the U.K. declared it still intends to establish itself as a crypto hub, and industry supporters are delighted.

The U.K. government is determined to move forward with former Finance Minister Rishi Sunak’s plans to make the nation a global centre for cryptocurrencies, according to Richard Fuller, the nation’s new economic secretary to the Treasury, who spoke at the country’s first-ever crypto debate in Westminster last week.

© image:coindesk

After Sunak resigned from his job in July, and perhaps even more so when he lost to Liz Truss in the race for prime minister, the local blockchain community’s hopes for innovative rules that could advance the U.K.’s stalled crypto business, were dashed.

But according to Baroness Manzila Uddin, co-chairwoman of a bipartisan parliamentary group focused on the metaverse and Web3, Fuller’s remarks were a “wonderful signal of development” to the crypto community.

Ian Taylor, executive director of London-based lobbying organisation CryptoUK, told CoinDesk that the resignation of the ostensibly pro-crypto Sunak in July could simply mean that Sunak and Glen will return “in a different guise.”Taylor remarked at the time that “all of the community’s hard work in the last two years educating Rishi Sunak and John Glen has now gone away.”

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