According to BlockBeats, on July 9, Bloomberg reported that British Prime Minister Keir Starmer will appoint Tulip Siddiq as UK's City Minister. This position belongs to the Treasury and is at the core of regulating and advocating key financial services industries.

Siddiq, who has been an MP since 2015, is expected to be appointed economic secretary to the Treasury, according to people familiar with the matter. This is the equivalent position she held in Starmer's shadow cabinet. The position is known as the UK's City Minister, referring to the City of London and the broader financial services industry. Its responsibilities also include regulating fintech, crypto assets and debt management policies.