After Prime Minister Boris Johnson Resigns, Are the UK’s Crypto Hub Dreams Dead?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 10 July 2022

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. After years of what many would consider hostility to the industry, the British government did a major about-face in April when Chancellor of the Exchequer Rishi Sunak announced the country’s intention to make the U.K. a global crypto hub. But as Sunak resigned as part of a mass exit leading to Prime Minister Boris Johnson’s resignation this week, that ideal seems unlikely. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Dan Kitwood/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, July 9th, and that means it's time for the weekly recap.
0:29.2	A quick note, before we dive in, there are two ways to listen to the Breakdown Podcast.
0:34.0	You can hear it on the Coin Desk Podcast Network, which comes out every day in the afternoon,
0:38.0	and features the breakdown alongside other great Coin Desk shows,
0:41.1	or if you just want to hear the breakdown-only feed, that comes out a little later in the evening.
0:45.8	Wherever you're listening, if you would be so kind as to leave a rating or a review,
0:49.9	it makes a huge difference, and I really appreciate it.
0:52.7	Lastly, a disclosure, as always.
0:54.7	In addition to them being a sponsor of the show, I also work with FTX.
0:58.7	Now, today we are doing something a little bit different.
1:01.8	We are talking about the volatility and upheaval in UK politics, but specifically, of course,
1:07.6	what it might mean for the crypto community in that country.
1:11.9	This is the type of show that I love doing during the weekly recap because while it's a little bit outside of what we
1:16.2	might normally cover, there is some interesting overlap and it's certainly big picture power shift
1:20.4	time in the UK right now. I'm not going to go deep on the situation because obviously this isn't a
1:25.7	politics podcast. It's not particularly
1:27.6	a UK podcast, but if you haven't seen, the prime minister of the UK, Boris Johnson, resigned on
1:33.8	Thursday morning. This is coming after months of building criticism and scandal around everything
1:39.2	from economic policy, COVID policy, national health systems, ministerial conduct, and more.
	...

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