Sunak tweeted after earning the post when opponent Penny Mordaunt dropped out:
The former Chancellor of the Exchequer will face challenges from the UK’s tumultuous economy, which the Bank of England has declared to be in recession.
Rishi Sunak revealed his plans to turn the United Kingdom into a worldwide crypto powerhouse in April.
Sunak assisted in the introduction of the Financial Services and Markets Bill in July, which attempts to regulate stablecoins as payment mechanisms and give the Bank of England supervision over digital asset service providers.
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