Bitcoin Forum

Rishi Sunak is the next prime minister of UK. He is from an Indian origin and is the youngest prime minister of UK since 19th century.
Keeping all that aside the interesting fact is that he is a firm crypto believer. I got to know this when I was scrolling insta today.
It seems that crypto regulations have also been approved right after he became the PM of UK.
This shows how positive he is about cryptocurrencies and he might lead the way for a wide adoption of cryptocurrencies.

Read more:
U.K. Lawmakers Vote to Recognize Crypto As Regulated Financial Instrument (https://www.investopedia.com/uk-approves-crypto-regulations-6757694)
Rishi Sunak is Pro Crypto. Is This the Start of Global and Institutional Bitcoin Adoption? (https://uk.news.yahoo.com/rishi-sunak-pro-crypto-start-095633264.html)

I am not completely informed on how UK political positions work, I know that the prime Minister is an important charge, but in order for a wider Bitcoin adoption to happen in the United Kingdom  would it not be necessary support of the chamber of commons and the chamber of lores?

For example, there are countries which the power is very centralized in an individual but as far as I know the UK is not one of them.

Regardless of these details, if this new Prime Minister is as crypto positive as implied then it could be a good chance for Bitcoin to get rid of the stigma in that country and find a welcoming place in such economy, it would be an excellent situation if more doors ended up being open to decentralized assets, there is a lot of money and liquidity in the UK.

It's a good news for crypto and mining firms, United Kingdom has done another step for allowing crypto more, I'm sure that minister he will edit much laws and allow crypto everywhere. After all we can't even know the people who are using crypto and bitcoin. For example in another country maybe a president forbid using crypto and mining firms even though he is using crypto to buy or trade.
We need more believeer as rishi sunak to extend and allow bitcoin everywhere. And one thing more is you can't even know maybe this president is one of bitcointalk members Xd

Lol.. That's funny, but you never can tell..
However, having a crypto-friendly Prime Minister of the United Kingdom was a great move and welcome development to the growth and adoption of Bitcoin, because to me there is nobody who coyld speak on behalf of Bitcoin or implement a policy favourable to Bitcoin users than a true believer, of which i'm happy the new young vibrant P.M @ Rishi Sunak is one of them. So let's just watch and see how his administration will be as it's still too early to judge a book by its cover

However there is always the possibility of widespread adoption of crypto in any country regardless of whether their government is crypto adherents or not. Crypto is a great idea if the government wants to adopt it, but I wouldn't be surprised the journey of adoption of crypto especially bitcoin will be hindered by regulation. The UK is a great target for crypto adoption in the future, but we don't know when it will actually become a reality given that in the article they approve regulated financial instruments. That means it is not a fully decentralized bitcoin and according to the article stablecoin is one of the approved crypto.

UK was not doing so well since the brexit and now that USD is pumping it looks even worse, so it's really important that young innovative people take over the reins.
I hope that Sunak proves to be good for bitcoin because there's a very thin line between regulating something and regulating the shit out of it. On one hand we need some regulation, on the other we're giving people who come from traditional finances freedom to govern our decentralized money.

He might be a crypto believer but he's also a proponent of CBDC's. I don't think in a crypto economy there has to be the exclusion of CBDC's, my only concern is the government using them as a cudgel to force consumers to adopt the government backed "crypto" and eventually phase out traditional cryptocurrencies. UK economy facing turmoil and GBP is in disarray, seems like an awfully convenient time for government to introduce alternative forms of their currency.

well, it is too early to judge about his future actions. it is no surprise for me if the new UK PM will be pro-crypto as their family is already in the IT business. i am thinking that he will be more knowledgeable in technical terms dealing with blockchain technology and cryptocurrencies. so i am guessing, his decisions will be more logical. let us see in the coming months how this pans out.

I don't trust any politicians, and I certainly don't trust this puppet Rishi who is just a part of global system that is totally against Bitcoin.
Never believe what politicians say or promise, look at their actions and you will understand if they are supporting Bitcoin or just following instructions from their masters.
I don't see any of his actions that the really supports Bitcoin, but maybe we will adopt some shitcoins like ethereum or make his own CBDC crap.

A politician's words or promises during a campaign are never to be trusted, because politicians are liars by profession, willing to say anything to help them win office or keep it. They will break promises and make new ones as if nothing has happened. We know that Bitcoin is a threat to the existence of the existing financial system, so they are doing everything they can to discredit it. This is not new, just simply follow the money. Governments and banks will never like it (except maybe when they control it), so they will do everything in their power to prevent it from becoming a mainstream currency. This means discrediting Bitcoin and spreading misinformation about it.

The only way for Bitcoin to survive is for people like us to keep pushing for its adoption and use, so it becomes mainstream, accepted by everyone and used as a medium of exchange.

The new Prime Minister's comments about his intentions to make UK a crypto hub is a proof that he is knowledgeable about cryptocurrecies.  But most of these politicians are more concerned about the revenue they can get from the crypto space and thier ability to regulate transactions in cryptocurrecies and not genuine trust on it.

There main goal would be on how to centralized these currencies and ensure that people engaging in crypto transactions lose thier privacy. Thier failure to regulate bitcoin would motivate them to embrace other shitcoins and spearhead the anti-bitcoin crusade.

But I am a pessimist, therefore I still believe that someday a powerful country would have a leader that would be a true believer of bitcoin and it is possible that Rishi Sunak might be that politician.

Indeed. This is one of the many reasons why everyday there is a lot of good news is coming with Bitcoin. Everyday there are lot of people are being introduced with Bitcoin and how Bitcoin really works and how it solves the current problem we have on financial and these leaders appreciate it, they don't give those kinds of statements without doing their research for sure.

It is worth mentioning that he is the third UK prime minister in less than 50 days! I'm not sure "crypto believer" is the characteristic I would use to describe someone who wasn't even elected for this position.

Besides when it comes to regulations, we have to first wait and see what they really mean. For example this could be the ban on bitcoin mining and possibly even on trading (at least extreme restrictions on trading) that some politicians have been talking about.

At a time when the British economy was in turmoil because of the prime minister who had only been sitting for about 50 days, but suddenly Rishi Sunak, who was Buddhist and black, was willing to become prime minister of England, he even said he was a big fan of crypto currency, he even said he would make the country Britain as a crypto currency country, even the British government wants to decide to include crypto assets into the scope that will be regulated through the financial services and market bill, but I don't really believe what politicians say, he could just say that so he can get support from many party, t
Because we have heard a lot of previous politicians saying that they are lovers of crypto currency but after they became ministers, all the promises he had made he forgot.

With his age, I would be astonished if he was not a crypto believer. No, as for the regulation that was aprooved, I can't say that is a good thing as usualy regulation is not done with the best of intentions, rather it is done to protect the interests of the corporations, banks and rich people. If regulation was done with poor people in mind things would actually work, but unfortunately this is not how it rolls.

the new Prime Minister of the UK, Rishi, when he was still finance minister, he openly supported cryptocurrencies and always wanted the UK to become the center of the world crypto industry. it's great to be prime minister, he has accelerated it so quickly. for the bill to pass, it needs to be passed by parliament and the final ratifier is King Charles III.

this news will open the door to the development and mass adoption of cryptocurrencies but will be regulations enacted for bitcoin. i don't think bitcoin will benefit in this case and the UK is also said to be developing its own CBCD.

Honestly he has more priorities than cryptocurrency in near future. There are so many issues from finance, economic to society must be resolved in the UK. He must do a good job to keep his position and with this pressure, cryptocurrency is in very last position of his to-do list.

There is calling and pressure to host an election in order to legalize his Prime Minister position. Host it or not host it, he still must manage the UK government very carefully in early weeks and months. Maybe if he can secure his Prime Minister position after a few months, we can come back to discuss about it. At this moment, it is a non-sense discussion because it's too early to discuss with many uncertainties.

While Rishi Sunak is indeed the new Prime Minister and a PM is pretty much the highest (in practice) post in the UK, I am not sure how much the regulations would be of use to cryptos like Bitcoin. Investopedia article, for example, is about stable coins and about a call to create a CBDC. The Yahoo article also mentions PM's desire to create a "Britcoin", and the stuff about Bitcoin and Ethereum seems to be purely based on speculations.
What I do know is that he came to power because of how badly the UK needs to have its economy fixed and brace for the recession. So he should be inclined to do whatever he can to boost the economy, and perhaps creating a favourable crypto climate is among the ways to do that.

Rishi is well-known for his dedication towards new technologies, in fact, he has had a successful track record when it comes to emerging technologies. His association with crypto-technologies should be enough to reassure that the UK will surely develop a friendly cryptocurrency environment and will be among one of the most preferred places to set up a crypto business. He served as finance minister under former PM Boris Johnson. During this time, he worked to advance initiatives that would encourage the use of digital currencies and integrate them into the British economy. However, and I think this is the most important part, his stance on Bitcoin is still unclear because he is also a long-time proponent of Central Bank Digital Currencies (CBDCs). I guess we'll just have to wait and see what direction the new British government takes on the matter.

Becoming the prime minister of the UK at an early age amidst the many factors that would have made it almost impossible is a sign of the level of confidence that they must have in his ability which will be put fully to test in this difficult economic times they are in. Considering his young age and say he is successful in holding the country together through the harsh economic times, his crypto believes will rub off on people, and if he is prime minister for a while, it will rub off on many more people thus promoting adoption.

Well, any politician makes far-reaching statements while striving for power and whether at the moment when he has just been elected, especially since there is a fairly large percentage of crypto fans in the UK, but you need to look at what exactly he will do in the future to promote bitcoin. I hope his words will find confirmation of his actions in the future and will not have the opposite direction.

I don't have much information about this new prime minister of United Kingdom but there are some information about Rishi Sunak we can find online about him and what we see he is a another bitcoin and cryptocurrency friendly person, however we cannot be still sure about it until he made a serious decision related to bitcoin for his country.

Bitcoin and other cryptocurrencies have a bad rep in the UK, so to actually have someone in that high of a seat of power believe firmly on the powers and potentials of cryptocurrency may spell great for the future of the industry in that country, so long as his movements are within the bylaws of that country and is not implied as treason. In any case, even with Rishi being the prime minister of UK as far as I know there's still the house of commons and the house of lords to decide whether they are to allow crypto to proliferate in the country.

We can't tell until they are the ones who tell. There is nothing to be afraid of or to be shy of since many this forum members are also a well known personality. They can in fact get more recognition if they let people know about their real position outside.

Anyone can allow btc even if they are only a starter but it's better if that person has an experience or has a passion with it already because they can defend btc when there are some officials who are against about it. They can explain if why it needs to be approved in the country. Same goes if the public complain like on what happened with el salvador before, where people protest about btc.

Well no one can tell. Although he might be a Crypto Enthusiast and would want to make sure Crypto succeed in the UK and we pray it happens that way perfectly well. Come to talk of it, he is a lover of technology and would definitely want the system to be technologically inclined but winning the hearts of the parliamentarians to his side is the major target if he must be successful in achieving this. At such, he would need them to approve such bill if the motion is passed. As a youngest serving prime minister in the history of the UK, I believe he would have much task in making a difference as he has been chosen to take the lead by the people who deemed him fit for the job. Taking the economy of UK to the next phase is amongst the expectations of his people do therefore, he has been bestowed with the responsibility of taking up such task and currently,  the world is going through economic crises which I believe is one of his major goal seeking solution to.

This shows clearly how the future of crypto would be, specially being approved by an effective country like the UK...
Bitcoin is the future money whether we want or not!

As expected from the world’s finance capital.

The UK makes most of its income from banking/finance and it would be mad to drive crypto users away.

People want this product, they want to hodl it, they want to trade it, they want to purchase stuff with it. Why make things harder for people especially when you can get your own cut from the action?

Rishi sees what is happening perfectly and he wants to get a piece for the UK and tbh, the UK needs that piece pretty badly considering how badly their economy is doing lately.

While he was the finance minister of the UK, he showed his love for cryptocurrencies, it was he who proposed to make the UK the center of the world crypto industry.
It is not clear yet whether it is really beneficial for us or is the purpose just to build their own CBDC and put in place strict regulatory frameworks for bitcoin and they want to control investors. The Prime Minister has not yet made a final decision, in England all bills will still have to go through parliament and the final reviewer is King Charles III, so can't rush to celebrate too soon, it remains to be seen what he will do.

Prime Minister of UK, a crypto believer is good for the development of technology. But, how far he can support the market need to be noted. He can putforth his positive thoughts about the market. It is the house to decide whether it can be considered or not. UK have got good number of banking service providers. Maybe bitcoin get added to the list of services, but this won't be an immediate move from the new government.

It might be too soon to jump to conclusions about the new British Prime Minister who seems supportive and friendly towards cryptocurrencies. but if it turns out that he really is a crypto lover. then that would be awesome. and very good news for the development of crypto adoption and also for those of us who are crypto users.

"Crypto believer" is one thing, "Bitcoin believer" is a different thing, despite the fact that Bitcoin is crypto. ;D
Elon Musk is a supposed to be a "crypto believer", if you think that dogecoin is an actual cryptocurrency. ;D
People like Roger Ver and Craig Wright are also "crypto believers", which is hilarious.
The new British prime minister being a crypto believer doesn't mean anything to me. He won't make Bitcoin a legal tender in the UK for sure.
Don't expect this news to bring any kind of benefit for the crypto community in the UK or the crypto supporters around the globe.


I never knew that most of the people in the UK are working as bank clerks. Ha ha ha... ;D

We should not easily believe in politicians, sometimes what he says is not in accordance with reality, he may say adherents of crypto currency for political purposes just to get support from many people, because we know bitcoin is very popular now, digital currency has been in demand by all circles and almost all countries have adopted bitcoin, Rishi sunak is of Indian descent maybe he will make a change and be able to make British people adopt bitcoin, because we know digital currency has a bad reputation in UK.

He just needs to do the way it will benefit people, else no one will support if they adopt Bitcoins. Moreover my only concern is that, how they gonna regulate it which is decentralised in nature? So definitely if the PM goes on a venture to accept and make it legalised, then definitely other high personnels will question him on his decision. This gonna be really great if UK seriously regulates it. This will also boost the price of the coin, as more demand for the coin will be made from the UK. Let’s see what happens next.

I would say irrespective of his background and past life if he is crypto believer then he can make astonishing changes inside UK to accept the crypto currencies. The fact that UK was also one of the first country to accept betting and slowly opening franchise for the same nationwide gives me full positive vision that having bitcoin accepted nationwide won’t be that far.

With Rishi’s power and vision and people inside UK who are enthusiastic for the new tech it’s entirely possible we will see new rim of possibilities getting opened.

Soon we will see they accept Bitcoin as mode of payment in the “William Hills”.   ;)

Yes, we cannot really know about that for sure, there's a possible for sure and it will be much better if he's an old user in this forum. But anyway, having a Prime Minister who is a firm believer of cryptocurrency is truly a plus and he might really change some things in the UK that will expose crypto more than what they have now, it might not be accepted widely as fast as possible like how it is speculated but I know there will be some good changes soon. Citizens who are inclined for this are thrilled for sure.

A decent regulation, with some good crypto exchanges built properly, and growing, with help of the government (not money help, just regulation help) would mean a lot. On top of that if you tax people low, and then promote it with words (like him saying good things about it) would make it more known in the nation as well.

I have to say it's definitely not a bad start if they did these, but I am sure that they have more things to consider right now, like lost value of the pound, that's their number one priority right now and they will focus on that. Crypto is never at the top of the list when it comes to politicians, so we won't see anything right away, and by the time they can look into it, elections will come.

Over-optimistic op. You do realise that he is just another corrupt politician who stands to gain more by not legalising BTC as a payment currency, don't you op? Think!

He lost to Liz recently and only came to power since she made a big mess and her own staff abandoned her. He will completely focus on helping revive the UK economy since all eyes are on him currently.

Whether he successfully revives the UK economy or not, he will most probably not give two shits about BTC or other cryptocurrencies.

being that for him to become prime minister he had to ask for the support of many politicians from his party maybe he can convince all politicians from his party and the opposition in parliament to pass good laws about bitcoin, but I believe that this task will not be easy Because England's politicians tend to each make decisions on their own, they are unlikely to approve something they don't agree with just because the Prime Minister wants it, likes it or uses it. so in my opinion, not much changes with the fact that the prime minister is pro bitcoin

It's definitely positive for crypto where the prime minister is a crypto believer. But don't expect too much as well. Because he alone couldn't change anything. There are a lot of limitations when something big happens. Crypto regulations aren't Crypto adaption. Regulations means would be added more rules that would harmful or useful for crypto users. It takes time to adapt to cryptocurrency. But believe since the Prime minister is a crypto believer they won't take strict steps regarding Cryptocurrency at all.

I think he acknowledges the reality. Most of the politicians always desire to run system as per their desires. Rishi knows that we are living in a changing world where crypto is future. Moreover he is an economist, he is made PM only on his strong finance credentials and I belive he has made a right move in proving the trust right.

he might be pro crypto, but I think that he'll most likely seek out a stablecoin mimicking the British Pound. I think given his in law's family background in tech, he probably notices that cryptocurrencies are here to stay (so does China btw, since they launched their digital yuan). Even if by some slim chance he would actually try to pull a Nayib Bukele and make Bitcoin a legal tender (which grows more likely actually due to the failure of the pound), he'll need parliament's backing. It's also unlikely that any government the size of Britain's would give up power over a currency...