Ex Chancellor Hammond criticises Sunak for sluggishness on Crypto
Former Tory Chancellor Lord Philip Hammond has criticised Rishi Sunak for sluggishness on Crypto regulation.
Theresa May’s money man hit out at Boris Johnson’s former chancellor calling on him to turn Britain in to a world leader in Crypto.
Speaking to FN, he said he was a “little disappointed” the UK was so “far behind” on regulating crypto.
Saying the UK has “the opportunity and the track record of being pretty good at exploiting regulatory opportunities” he claimed the “post-Brexit thinking about our future as a financial services centre” gives the country a “burning platform” and motivation “to get on and do this.”
This comes after Sunak revealed a number of steps in April, while still chancellor, to turn Britain in to a crypto hub – but these are yet to come to fruition according to Hammond.
Hammond said with Sunak as PM, he hoped to see “the UK moving to become the recognised leader” and that the “distractions” in recent months has stopped the government from cracking on with the policy.
He also warned that crypto was a key element of ensuring the UK starts growing again because “there’s an increasing awareness that we haven’t got a growth agenda”.