Following a landslide victory for the UK Labour Party, Prime Minister Keir Starmer appointed Tulip Siddiq as the Economic Secretary to the Treasury and City Minister. Siddiq, known for advocating stricter cryptocurrency regulations, aims to implement comprehensive frameworks for crypto assets. She criticized the previous Conservative government's approach to crypto as the 'Wild West' and emphasized the need for proper regulation to attract fintech companies. Siddiq's appointment has raised expectations of the UK becoming a global hub for tokenized assets. However, the new government's stance on digital assets remains uncertain. With Labour focusing on housing and healthcare, the development of Web3 regulatory infrastructure might be delayed. In the US, the upcoming 2024 election could also impact blockchain policies. The Chamber of Progress has urged President Biden to address regulatory clarity on crypto. Overall, Siddiq's appointment signals a potential shift towards stricter crypto regulations in the UK. Read more AI-generated news on: https://app.chaingpt.org/news