Rishi Sunak wants Britain to be a global center for crypto. Sigh

Von Krypto News Österreich

oh rischi. What a shame! Where did these simpler times go when you were satisfied with just sitting there and looking completely decent in your hoodie and perfect your celebrity autograph in the P-diddy style? Why do you have to insist on being so lazy? It feels like starting to take the royal Mickey!

Yes, we refer to the news from Monday that the honorable treasure chancellor Rishi Sunak in the honorable footsteps of the "coolest dictator in the world", El Salvador's Bitcoin-Bro President Nayib Bukele, kicks to publish the royal coin an NFT to make Great Britain the crypto nation number 1 in the world.

Why is the Ministry of Finance doing this in such difficult times? Somehow that has to be related to the British living cost crisis or something similarly serious, right? Almost. The NFT is used as an "emblem for the future -oriented approach that the United Kingdom pursues". A blockchain-based digital receipt for a JPEG that you don't actually have is a symbol of the future of Great Britain. Simply wonderful.

from our Rishi on Monday:

In the speech to which Sunak refers (it is worth reading the whole thing, but please make sure that you have not only eaten), Economics Minister John Glen explains on which page the finance ministry is when it comes to the debate about crypto. Here is an excerpt (with our emphasis):

If there is a message that I want to leave it here today, then this Great Britain is open to business-open to crypto companies.

We are still about to break through this technology. But there is not even a consensus about what the effects of crypto are. . . when or whether we will achieve a kind of stable state. . . Or whether crypto itself is a good thing.

There is a massive debate between the skeptics and the evangelists, and there is a wide range of views in between.

Some people are very worried about crypto. . . And how to harm consumers. . . Or provide a platform for illegal activities free of state supervision. . . Or drive the CO2 emissions up.

others say it is the best thing there is. They argue that crypto could revolutionize things like the global financial world. . . By making the financial exchange more transparent, more efficient and democratic and putting the currency in the hands of people and not from nations.

This leaves us in the United Kingdom with a big question: How will we react?

Our answer is:

If crypto technologies will be a large part of the future, then we want to be there - the United Kingdom - on the ground floor.

We are not sure with you, but for us it feels more like the Ministry of Finance would ignore all the boring stuff about illegal activities and carbon emissions and instead take the site that considers crypto to "the best of all time". The side that believes that it will make the financial exchange "more transparent, efficient and democratic" (groan) and that believes that "putting currency in the hands of humans" not from nations (greater moan).

After some chatter about how Britain will ensure that "regulatory authorities have the right instruments to cope with the associated risks" and how the government "would check the energy consumption in connection with certain crypto technologies" (this should do so), intensify the crypto gospel:

We see enormous potential in crypto. . . And we want to give ourselves every chance to draw the greatest possible benefit. We will not lower our standards, but keep our technologically neutral approach. A solid and effective regulation will not hinder innovations, but even promote it - by giving people and companies the trust that they need to think and invest in the long term. . .

We have a detailed plan. . . We, like me, are determined to learn quickly. . . And the government will show the way to use the potential of the blockchain and to support the development of a world's best crypto ecosystem. . .

There is a real opportunity to build on our strengths in the FinTech area, use the capitalist energy that has already made British financial services what they are. . . And use it to release the potential of crypto technologies.

Correct, boys, takes capitalist energy! Unleash the potential of crypto - Great Britain is open to business! Wagmi!

It is almost as if the government has not learned that it should be a little more careful with whom and what Britain goes to bed, isn't it? We suspect that after we have lost a few bed partners recently, we need some fresh meat under the ceiling. What could possibly go wrong? Rule, Bit-Tannia!

related links:
What is the story, blockchain-goal? -Ft Alphaville
RISHI SUNAKS FAULLY WITH IN CHAST Show hosting-FT Alphaville
Grant Shapps steps back from blockchain positions after FTAV has discovered a secret wage agreement-FT Alphaville


Source: Financial Times