Who is UK’s New City Minister & Her Views on Crypto

Who is UK’s New City Minister & Her Views on Crypto

The UK’s current prime minister, Keir Starmer, is a human rights lawyer from a small town in southern England. Today, he made his first official speech in parliament since being elected.

He took the time to congratulate Speaker Sir Lindsay Hoyle after MPs re-elected him for the role. So, who is Tulip Siddiq, and what’s her connection with crypto?

Siddiq to be UK’s City Minister

According to a Bloomberg report, Tulip Siddiq is set to succeed Bim Afolami, the former HSBC banker who held the role. Bloomberg reports that Tulip Siddiq has been appointed Britain’s city minister. However, there is no official confirmation of the appointment. 

As the minister, Tulip is set to oversee the financial services sector. Since 2021, Siddiq, 41, has been the leader of Labour’s efforts to establish policies for the sector, which is referred to as “the City” in honor of the City of London financial district. 

Bloomberg writes on X that it is “a key Treasury role at the heart of regulation and advocating for the financial services industry.”

So, who is she? Tulip was re-elected as Hampstead and Highgate MP, on 4 July by 15,000 votes. Tulip, speaking at an Investment Association conference in June last year, said the UK listings drought “should concern all of us.” 

UK crypto investors are not sure what stance she will take on the industry. In 2022, She criticized the Conservative Party for taking a £500,000 ($639,215) donation from crypto investor Christopher Harborne.

At the time, the Conservative party had pledged to turn the UK into a digital assets hub. Tulip described the NFT plans for Britain as a “vanity project.” She said, “Instead of protecting the public by properly regulating the crypto market, it appears the Conservatives have been looking after the interests of their wealthy donors.”


Also Read: Bitcoin Rebounds to $57K, Is a New High in Sight?

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Published at Tue, 09 Jul 2024 21:47:18 +0200

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