New Finance Minister Kwasi Kwarteng Leaves UK Crypto Policy Unclear

When he was Secretary of State for Business, Energy and Industrial Strategy, former Finance Minister Nadhim Zahawi was part of a department suggesting support for blockchain technology in 2021.

Liz Truss, recently elected leader of the Conservative Party and Prime Minister of the United Kingdom, has appointed Kwasi Kwarteng as the country's new Chancellor of the Exchequer or chief finance minister.

In an announcement on Tuesday, Truss's office named Kwarteng as the UK's next finance minister, replacing Nadhim Zahawi, who served as Chancellor of the Exchequer for three months after Rishi stepped down Sunak in July. Kwarteng was most recently the UK Government's Secretary of State for Business, Energy and Industrial Strategy, and has been an MP since 2010.

MP Rt Hon Kwasi Kwarteng @KwasiKwarteng has been appointed Chancellor of the Exchequer @HMTreasury.#Reshuffle pic.twitter.com/6YQy0YuQPs

Queen Elizabeth formally appointed Truss as Britain's Prime Minister and First Lord of the Treasury on Tuesday following the resignation of Boris Johnson. While Truss said in 2018 that the UK "should welcome cryptocurrencies in a way that does not limit their potential", Zahawi has hardly spoken publicly about his crypto and blockchain projects in the country. .

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