The Chancellor of the Exchequer of England, Rishi Sunak, stated that with the ties broken between the EU (European Union) and Great Britain as a result of “Brexit”, the UK might be able to evaluate the practicability of crypto for its economy independently.
He also acknowledged that with Great Britain’s resolution to officially exit the European Union, the nation will, without a doubt, be facing quite a number of challenges, particularly on the economic aspects.
However, Sunak was also confident that the nation can deal with these challenges directly in order to bring the welfare and progress that its residents need.
Sunak delivered a speech on the 1st of July where he stated that the nation will be implementing a set of commercial service reforms over the next few years. He also stated that these reforms are meant to further strengthen Great Britain’s capacity to compete in financial services and impact the international stage.
He also went on to add that while the nation’s exit from the EU is inauspicious, it was rather a blessing-in-disguise situation as the nation would now have the opportunity to venture into a different path and discover new avenues.
Sunak stated that this opportunity to make entirely new choices is something that the nation would take advantage of to bring about favorable benefits for its citizens.
The British politician also revealed that he is a strong believer in the tremendous various benefits of new technologies, such technologies include cryptocurrencies as well. He further added that with the ever-moving progress of international finance, the Bank of England must always be well-versed in these advancements, not just to continue following a trend to influence an existing innovation for the best interests of the nation.