Rishi Sunak likes crypto. The UK’s prime minister was finance minister during crypto’s last hot streak in 2021, when the hype cycle pushed the value of cryptocurrencies to record levels. The following April, Sunak unveiled a plan to make the country “a global cryptoasset technology hub” by writing clear regulations that would “give [crypto companies] the confidence they need to think and invest long-term.” Crypto, Sunak said, was “the business of tomorrow.”
Since then, both crypto and the UK economy have quite dramatically come off their peaks. In July 2022, Sunak quit as chancellor, helping bring down his boss, then prime minister
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