Hot News

Hot News


The Malaysian mobile brand meen has formally disclosed that its latest product will be unveiled at 2:00 PM on August 15th at W Hotels in Kuala Lumpur (The Great Room, Level 9). During this highly a...
Founded in 2020, FameEX is a secure and globally recognized cryptocurrency exchange that has achieved significant milestones over the past few years. As they gear up for their third-year anniversar...
Bored Apes Yacht Club has risen from virtual avatars to a super IP in the NFT industry with implemented commercial applications, making it a role model for many other PFP successors. Affected by su...
The Ready Player One, jointly created by several internationally renowned institutions such as Golden Collar U.S.Venture Capital Inc, is a digital ecological platform for games based on blockchain ...



In the wake of the global digitalization wave, digital finance is increasingly becoming a vane of the financial industry. Digital Finance Fusion Bank (DFF), as a leader in this revolution, has beco...
In a vibrant and increasingly complex cryptocurrency market, choosing a trading platform that prioritizes security is crucial. HOUNAX, a globally leading cryptocurrency trading platform, is becomin...
REVOLUTIONZING CRYPTO BINARY TRADINGBinary Guardian, a leading platform in the world of cryptocurrency trading, is proud to announce the launch of its revolutionary Guardian Automation BOT trade sy...
In the global cryptocurrency market, YOMAEX is demonstrating its strong capabilities as a digital currency platform, with its exceptional global influence and unique advantages in global developmen...
YOMAEX Exchange, hailed as a global leader in digital asset trading, has recently attracted significant capital attention, once again affirming its leading position in the global digital asset trad...
NaaS (NASDAQ:NAAS) announced its unaudited financial results for the first quarter of 2023 on June 16 (UTC+8). The company achieved a remarkable milestone with revenue reaching RMB 36.2 million (or...
In June 2023, the globally acclaimed NFT financial service platform, NFTfi, introduces its new digital asset investment venture, NFTfi-Asia, in the Asia-Pacific region, opening up a plethora of luc...
Since time immemorial, games have been an integral part of everyday life. With the evolution of computer technology, games have transitioned from offline to online platforms. In recent years, the g...
According to the Vorsi team, Vorsi Web3.0 Academy was initiated and established in Q1 of 2023, with Dr. Russell as a core member of the team. Russell is a computer science Ph.D. from the University...
Amidst the continuous advancement of blockchain technology and artificial intelligence, the digital economy has emerged as the prevailing global trend. Against this backdrop, the Kredivo Project ha...
On 13 March 2023, CyberConnect, the decentralized social graph protocol is culminating in the wrap of Connected 2023, a Web3 social hackathon organized in partnership with BNBChain, the world’s lar...
Decentralized social collaboration network DreamLand will be officially launched in mid-March, and its first NFT, Chill Parrot, will be released in April. DreamLand will open Founding Member partne...
BitValue announced the Investment in Spield Algorithm, which is Shaping the Future of AI Quantitative Analysis.Web3 is rapidly changing the world, and an increasing number of people are recognizing...
PLXYER, pronounced "player", has announced the launch of their all-in-one Web3.0 game portal platform. This Gaming platform is designed to provide players with a thrilling gaming experience while o...
iPeakoin, a fintech institution that facilitates a seamless integration between financial and crypto infrastructure, recently announced the launch of its CaaS (Card as a Service), aiming to bring c...
Funversy, the first NFT ecosystem built on the BNB network, recently launches its Beta Version and updates the functions of Launchpad, Farm and Trade, is committed to creating a new NFT platform wi...
dYdX said on its social platform that due to excessive user participation, the activity of depositing more than $500 to get a $25 bonus has been stopped. Yesterday's news, dYdX announced that it wi...
The data on the Tokenview chain shows that the current total holdings of Grayscale is 18.276 billion US dollars, and the trust premium rates of mainstream currencies are as follows: BTC, -32.69% ET...
Yuga Labs metaverse project Otherside released a new promotional video on its social platform, and hinted that the project may announce new plans in Q4.
The market shows that Ethereum hit $1,600 per piece, up 1.27% on the day.

UK Leadership Race: Front-Runner Rishi Sunak Known for Crypto Advocacy

Issuing time:2022-07-16 11:49

Rishi Sunak, the current front-runner in the race to become the U.K.’s next prime minister, is a well-known proponent of cryptocurrency.

Sunak won the second round of the contest – which was triggered by the resignation of incumbent Boris Johnson last week – with 101 votes to his name. His nearest rival is Penny Mordaunt with 83 votes, and Foreign Secretary Liz Truss has 64 votes.

Should Sunak succeed Johnson as the U.K.’s next prime minister, his appointment would not necessarily be good news for individual financial freedom. Besides being a proponent of the cryptocurrency sector, the former Chancellor of the Exchequer is also known to be an advocate for Central Bank Digital Currencies (CBDCs).

While the former seeks to decentralize and democratize finance, critics of the latter point out that programmable money such as CBDCs can be used to centralize financial control.

Sunak for PM and crypto

In April, Sunak, then Chancellor of the Exchequer, set out his ambition “to make the U.K. a global hub for crypto asset technology.” As part of that drive, Sunak proposed that stablecoins should become a recognized form of payment within the country. The Chancellor went on to ask the Royal Mint to create “an NFT [non-fungible token] for Britain.”

Announcing the policy agenda at the time, the Chancellor said: “It’s my ambition to make the U.K. a global hub for crypto asset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country.”

In June, Tether announced that it would launch GBPT, a pound-pegged stablecoin for the U.K. market.

Sunak for CBDCs

During the U.K.’s Presidency of the G7 in Oct 2021, Sunak launched “a set of public policy principles for retail Central Bank Digital Currencies.”

At that time, Sunak was quick to point out that, “The decision on whether to launch a central bank digital currency is for each country to make and no G7 jurisdiction has yet to make that choice.”

Even so, in April 2021, Sunak instructed the Treasury and the Bank of England to work together to coordinate on the exploration and feasibility of a potential U.K. CBDC.

The consequences of CBDCs could yet prove disastrous for individual freedoms and liberties. In June 2021, Tom Mutton, a director of the Bank of England, spoke freely on the matter.

“There could be some socially beneficial outcomes from that [programming money], preventing activity which is seen to be socially harmful in some way. But at the same time it could be a restriction on people’s freedoms,” said Mutton.

Those who fear the potential of CBDCs to bring about social credit systems may therefore have concerns about a Sunak premiership.

Sunak’s global outlook

Through his approach to CBDCs and climate reform, Rishi Sunak has demonstrated a global outlook in his politics. Through the G7 and 136 nation-state members of the Organization for Economic Co-operation and Development (OECD), Sunak pushed to create a minimum global corporation tax rate of 15%.

Oxford-educated Sunak is married to fashion designer Akshata Murthy, the daughter of the Indian IT billionaire Sudha Murthy. Sudha Murthy is the founder of Infosys, a member of the World Economic Forum’s (WEF) Partnering Against Corruption Initiative (PACI).

On Thursday, the U.K.’s Financial Conduct Authority (FCA) called for a global set of rules to regulate international crypto firms.

Should Sunak triumph in the U.K. leadership race, the FCA seems certain to find a sympathetic prime minister residing at Number 10 Downing Street.