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Conservative leadership race has U.K global crypto hub ambitions in limbo


The shock resignation of Rishi Sunak on July 5 has cast uncertainty on the future direction of crypto in the United Kingdom In the months before his resignation, the former Chancellor spearheaded several policies to turn the country into a global crypto hub.

This included payment regulation reform to recognize stablecoins as a valid payment, creating a regulatory sandbox, developing a “Cryptoasset Engagement Group” to act as an interface between government and the crypto industry, and re-evaluating taxation policy towards digital assets.

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