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UK City Minister, Crypto Proponent John Glen Resigns as Ministers Quit Johnson Government
In April, Glen outlined the U.K.'s ambitions to become a crypto hub and produce a regulatory package for crypto assets.
U.K. City Minister John Glen resigned from the government Wednesday, following former Chancellor of the Exchequer Rishi Sunak in leaving the Treasury. Glen was also Economic Secretary to the Treasury.
In a post on his Twitter feed, Glen cited the handling of the appointment of the former Deputy Chief Whip Chris Pincher and the "poor judgement" of Prime Minister Boris Johnson among the reasons that "made it impossible for me to square continued service with my conscience."
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In April, the former minister outlined the U.K.'s ambitions to become a crypto hub and produce a regulatory package for crypto assets.
“We want this country to be a global hub – the very best place in the world to start and scale crypto companies,” he said at the Innovate Finance Global Summit in London, according to a published version of his speech. “If there is one message I want you to leave here today with, it is that the U.K. is open for business – open for crypto businesses.”
Johnson has faced calls to resign after admitting he had ignored allegations of misconduct when he appointed Pincher.
Sunak and former Health Minister Sajid Javid resigned on Tuesday. Sunak was replaced by Nadhim Zahawi, who was previously the secretary of state for education, and Javid by Steve Barclay, who had been a minister of the cabinet office.
Camomile Shumba
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
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- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
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