Britain appointed a new prime minister on Monday. The new leader is known for his vocal support for the cryptocurrency, which was seen in comments Monday.
What happened: Rishi Sunak was appointed the new prime minister from UK, the third person to have held this position in the last two months. Sunak has pushed the country to do so support cryptocurrencysomething he spoke loudly about when he served as Chancellor of the Exchequer.
Sunak issued support and a new focus on the cryptocurrency sector on Monday, as shared by Bitcoin Magazine.
“The G7 introduces a set of retail policies Central bank digital currenciesCBDCs,” said Sunak.
The UK is a member of the G7 along with the United States, Canada, France, Germany, Italy and Japan.
“Central bank digital currencies could be a digital version of money, a bit like a digital banknote, that could be used alongside physical notes and coins.”
Sunak said governments and central banks would work together on a potential digital currency that would be issued by a central bank.
Key priorities to consider include a secure transaction that offers other payment options, is energy efficient and available to all, Sunak added.
“Today’s report will help inform and support research into CBDCs and the G7 and beyond.”
Sunak added that earlier this year he announced a joint task force for the UK Treasury and the Bank of England to look at CBDCs.
Related link: What is Central Bank Digital Currency (CBDC)
What’s next: Sunak said the decision on a central bank digital currency (CBDC) is at the exploratory stage.
“The decision on whether to adopt a central bank digital currency is up to each country, and no G7 jurisdiction has made that decision yet,” Sunak said. “These decisions raise important questions about transforming our economy.”
Sunak called the exploration an important step in supporting the cryptocurrency and working with international partners.
“We are happy, …
