The UK has had 3 Prime Ministers in the last seven weeks. Boris Johnson led his party in 2019 to a landslide victory but was driven out of office following a series of scandals relating to the global pandemic in 2022. Liz Truss replaced Boris, and her policies were centred around the biggest raft of tax cuts for half a century. The markets didn’t react well, and Liz Truss only lasted a chaotic 44 days before she handed in her resignation. All of these changes within the UK have had the potential to affect the Blockchain industry in the UK. We’ve written this article to help you understand what impact the political changes are likely to have on the industry going forward. The new Prime Minister in the United Kingdom is now Rishi Sunak. This could be very positive for the blockchain industry. Rishi, when previously acting as Chancellor, had stated that it was his ambition to make the UK a global hub for cryptoasset technology. His ambition was to ensure that firms could invest, scale up and innovate within the UK. Now that he is Prime Minister, this will hopefully mean that the UK will be a more appealing place for Blockchain and Crypto Companies to take up office. He has helped bring in important legislation like the Financial Services and Markets Bill, which is working its way through parliament at present. Globally, this is a leading piece of legislation that will act as a framework for the regulation of digital assets in other nations. He has also taken the lead for the integration of stablecoins into the national payment system. Rishi’s appointment is seen by many of the global key players as a positive move in the financial industry too. Crypto, in its inevitable move toward adoption, will only be encouraged by his actions toward regulation and legislation of the industry in the UK. It won’t be long until you can buy your groceries using stablecoins in Sainsbury’s! It is excellent that the UK is on track towards regulating the industry and leading the way globally. Let’s hope, though, that the ideas Rishi has can be implemented through The House of Commons and The House of Lords. As Rishi doesn’t technically have a mandate from the British Public, he may face many challenges in making changes to the UK’s financial landscape.