British Prime Minister Liz Truss named Kwasi Kwarteng as the country's next finance minister, CoinDesk reported, after former finance minister Rishi Sunak had planned to turn the country into a cryptocurrency hub before resigning from government in July. It’s unclear to what extent Kwarteng supports Sunak’s crypto vision for the country. However, in a June 2021 report, Kwarteng's department identified blockchain systems as one of "seven technologies that will transform our economy in the future." In July, his former department announced a £53 million ($61.3 million) fund to support technological innovation, including the use of blockchain in supply chains.