This afternoon Rishi Sunak took over as Prime Minister of England and expect it to be the same as before with no improvement as the latest crop of world leaders are generally weak and pathetic. What is interesting and possibly different is his love for Crypto and the "Britcoin" digital pound.
Back in 2021 he mentioned he wanted to assemble a think tank which was followed up in April this year stating he would like to make the UK a "crypto hub" supporting innovation in business by offering a type of sandbox to play and develop in. This will all be highly linked with stable coins apparently so now he is the PM what is stopping him.
Possibly a general election lol as with all the turmoil being the 3rd PM in a matter of months this would be advisable or not depending on how you think. I suppose this would have to be the only real silver lining for Crypto as at some point the ones being elected will be of the crypto age who are in favor of changing how we view monetary policies and how payments are done.
Everyone can see the current economic system is failing miserably and at some point change has to happen whether they are in favor or not. Holding back the inevitable when Crypto is clearly the current solution on the table will happen at some point. The Britcoin PM as he is dubbed mentioned having a digital currency in place by 2025 which is literally just over 2 years away.
Who knows by the time we see the next Bull market things may have changed quite considerably which I think they would have done anyway. The one thing you can guarantee with Crypto is that it never sleeps and is always pushing ahead developing no matter what.
Over the last Crypto cycle we saw Defi usher in a new way of earning and there will no doubt be other developments in this area. Crypto as a way of being able to earn via staking and compounding is going to be the new financial technology and is one area that is still going to explode. It will be hard to see how institutions stay out of this sector as it is ripe for development and new innovations.
When Governments are pro crypto in the financial sector you have to always keep in mind why and it is the taxes that will flow from such innovations. We cannot be gullible believing it is anything else as this is the reason why they want to be at the forefront of the crypto table.
Whatever happens over the next 2-3 years there will be opportunities to expand our earning capabilities and why we need to pay close attention to trends and where the crypto markets are heading. These are interesting times to be involved in crypto and being so early will have it's benefits.
