Bim Afolami Appointed Economic Secretary, Driving UK Crypto Policy Shift

    UK Prime Minister Rishi Sunak appoints Bim Afolami as Economic Secretary to the Treasury, signaling a shift in crypto policies. Former Secretary Andrew Griffith advances to the Department for Science, Innovation, and Technology. Afolami’s role crucial for shaping digital asset and CBDC adoption in the UK.

    In a restructuring move by UK Prime Minister Rishi Sunak, Bim Afolami assumes the role of Economic Secretary to the Treasury. Afolami’s influence will extend to policies impacting the adoption of digital assets and central bank digital currencies (CBDCs) in the United Kingdom. Former Secretary Andrew Griffith, known for advocating crypto-friendly policies, transitions to the Department for Science, Innovation, and Technology.

    The UK government, focusing on fostering a crypto-friendly environment, has engaged with industry players like Coinbase. Afolami’s meeting with Coinbase in June 2022 emphasized the importance of an appropriate regulatory regime for financial services. CryptoUK, the self-regulatory trade association, plans to brief Afolami on how crypto can contribute to the UK economy. The organization looks forward to collaborating with Afolami to advance the UK’s position as a global hub for crypto assets and blockchain technology.

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