England might be on its way to cryptocurrency adoption 

Rishi Sunak, the Chancellor of the Exchequer of England, said that with the broken ties between Great Britain and the European Union because of “Brexit”, the United Kingdom might have to independently assess the viability of cryptocurrency for its economy. 

He also admitted that with Great Britain’s decision to formally exit the European Union, the country will certainly face a lot of challenges, especially on the financial aspects. 

But Sunak also assured that the country can face these challenges head-on to bring the progress and welfare that its citizens need. 

Ready to face the future

In his tweet, Sunak said: “Over the next few years, we will implement a sweeping set of financial service reforms.” These reforms, he said, are designed to further improve Great Britain’s competitive position in financial services and continue to make an impact on the global stage. 

He also said that while the country’s separation from EU is unfortunate, it was a blessing in disguise as the country would now have a chance to take a different path and make new discoveries. 

The British minister said that this big chance to make whole new choices is something that Great Britain would leverage to bring the best benefits for its people. 

Praising the power of technology

Sunak also said he is a firm believer in the massive benefits of new technologies, including cryptocurrencies. 

He added that with the fast-phased progress of global finance, the Bank of England must always keep in touch with these advancements, not only to follow a trend but also to leverage an existing innovation for the good of the country.

 

Image courtesy of Cointelegraph News/YouTube

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