New UK PM, finance minister have previously supported crypto, blockchain – Yahoo Finance

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Britain’s new Prime Minister Liz Truss has appointed Kwasi Kwarteng, former head of the U.K.’s department for business, energy and industrial strategy, as the new finance minister, charging him with decisions that will impact British and global crypto markets.
See related article: Bank of England calls for greater crypto regulation
Former Finance Minister Rishi Sunak had been a proponent of crypto asset technologies and had stated plans to foster the country as a “global hub for crypto asset technology” before his resignation in July. It remains unclear to what extent Kwarteng shares Sunak’s sentiment on the digital assets.
The U.K.’s new prime minister hasn’t said much about crypto, but back in 2018, when chief secretary to the Treasury, Truss tweeted: “We should welcome cryptocurrencies in a way that doesn’t constrain their potential.”
Kwarteng, the new chancellor of the exchequer and son of Ghanaian immigrants, will have his hands full with an economy hitting 40-year-high inflation and predicted to hit recession later this year by many experts.
In a 2021 report from Kwarteng’s previous department, blockchain solutions were identified as part of the technological innovation needed to transform the British economy in the future.
In July, the department for business, energy and industrial strategy under Kwarteng announced a 53 million British pound (US$61.3 million) fund for supporting competitiveness through digital tech, including the use of blockchain technologies in supply chains.
See related article: U.K. consortium to test stablecoin payments
The Securities and Exchange Commission of Brazil (CVM) has banned Singapore-based cryptocurrency exchange Bybit from brokering “securities” within the country. See related article: Thailand mandates warnings on crypto ads Fast facts The CVM released a declaratory act, in an announcement on Monday, that ordered the suspension of Bybit’s security offerings and intermediation services directly or […]
High-profile bills meant to rein in—and sometimes provide relief for—the crypto industry have a dwindling chance of progressing as lawmakers turn their eyes to November's midterm elections.
Cryptocurrency lender Nexo has launched a trading platform that features spot, futures and margin trading for retail customers.
Against all odds, Luca Guadagnino is still planning on making another film in the Call Me By Your Name cinematic universe. There were, of course, two characters that drove the 2017 film’s central romance; can you guess which one is getting the sequel treatment?
Learn how to pay with cryptocurrency and discover some advantages and disadvantages of using it as a payment method.
Kwasi Kwarteng has become the new chancellor of the exchequer for the United Kingdom as Liz Truss announced her new Cabinet hours after becoming prime minister on Tuesday.
Sen. Bob Menendez (D-N.J.) tested positive for COVID-19, his office announced on Wednesday. “After experiencing mild symptoms, @SenatorMenendez tested positive for #COVID19,” Menendez’s communications director, Francisco Pelayo, tweeted. “He’s following @CDCgov guidelines while working remotely for the people of NJ. The senator is in good spirits and incredibly thankful to have been fully vaccinated and…
Michelle Donelan, a former WWE marketing manager who was Boris Johnson’s Education Secretary for just 48 hours, is to replace Nadine Dorries as Culture Secretary in UK Prime Minister Liz Truss’ first cabinet. Donelan, who has previously called for the “unfair” BBC license fee to be scrapped, has been named in the past hour as […]
Kenya has experienced an overall economic slump since presidential candidate Raila Odinga filed a court petition disputing the Independent Electoral and Boundaries Commission (IEBC) Aug. 15 announcement of William Ruto as the president-elect.
Rishi Sunak’s high-profile allies have been sacked from their Cabinet roles en masse to make way for Liz Truss loyalists.
Kwasi Kwarteng is currently the U.K.'s secretary of state for business, energy and industrial strategy.
Liz Truss’s new Cabinet is Britain’s most diverse ever, with women serving as prime minister and deputy prime minister and Black and South Asian politicians filling many of the top jobs. While they come from different backgrounds, the new ministers share Truss’ small-state, free-market economic views and staunch support for Britain’s exit from the European Union. The government’s diversity reflects years of work by the right-of-center Conservative Party to shake its “pale, male and stale” image.
Bitcoin fell further in Wednesday afternoon trading in Asia, while Ether lost the most ground among the top 10 cryptocurrencies by market capitalization. Ethereum Classic fell more than 15%. See related article: Markets: Bitcoin slumps below US$19,000, Ether drops despite Merge progress Fast facts Bitcoin dropped 5.6% in the past 24 hours to US$18,801.4 at […]
The Ethereum network has completed the first part of its highly-anticipated Merge, which has been billed as the “biggest event in crypto history”. The Merge will see the world’s second largest cryptocurrency switch from a proof-of-work system to proof-of-stake, cutting its electricity consumption by orders of magnitude. Instead, transactions are validated by owners of Ethereum’s crypto token (ETH) stake their own holdings in order to validate and secure the network.
The cost of freezing energy bills in the U.K. may end up costing roughly £180 billion, or about half the total cost of relief for the coronavirus pandemic, according to a new analysis.
Outgoing UK Prime Minister Boris Johnson says he will offer "fervent" support to his successor Liz Truss and her government. Speaking outside 10 Downing Street in a farewell address, he also says the economy has the strength to endure the current energy crisis.
The Blues were crowned European champions and won the Super Cup and Club World Cup during the German’s Blues tenure.
The incoming PM said she was "determined to deliver" for the British people – pledging tax cuts, action on energy bills, and putting the NHS "on a firm footing".
Nicola Sturgeon has announced an immediate freeze on rents and train fares in Scotland in a support package to tackle the cost of living crisis.
A year after El Salvador adopted bitcoin as legal tender, the area where the world's first cryptocurrency city was meant to be built – a circular metropolis powered by a volcano – is still dense jungle. President Nayib Bukele had promised that "Bitcoin City" would be a tax haven for crypto investors and miners equipped with an airport, residential and commercial areas, and a central plaza designed to look like a bitcoin symbol from the sky. But on a recent visit to the area in the shadow of the Conchagua volcano in the east of the Central American country, Reuters found no heavy machinery, construction workers, or raw materials to indicate any progress towards building this grand symbol to bitcoin.

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