UK Prime Minister names Tulip Siddiq as City Minister overseeing financial services including crypto

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Cointime2024/07/10 10:10

By:Cointime

Tulip Siddiq has been appointed as the Economic Secretary to the Treasury and City Minister by U.K. Prime Minister Keir Starmer. In the past, Siddiq has expressed concerns about the risks associated with cryptocurrencies and also highlighted their potential. The Labour party, which recently won a landslide election victory, has pledged to support the Bank of England's digital-pound plans and aims to make the U.K. a hub for tokenization. Siddiq's predecessor had promised to introduce secondary legislation for stablecoins and staking, but it remains to be seen if Siddiq will push ahead with these plans.

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