Insider: The new British Prime Minister intends to appoint Tulip Siddiq as the British Financial Secretary to be responsible for crypto asset regulation and other tasks

British Prime Minister Keir Starmer will appoint Tulip Siddiq as the UK's financial minister, a position that belongs to the Treasury, making her a key figure in regulating and advocating for key financial services industries. People familiar with the matter said that Siddiq, who has been a member of parliament since 2015, is expected to be appointed as the economic secretary of the Treasury. This is the equivalent position she held in Starmer's shadow cabinet. The position is called the British Financial City Minister, referring to the City of London and the broader financial services industry in the UK. Its responsibilities also include regulating fintech, crypto assets and debt management policies. Earlier news, Tulip Siddiq said that if the Labour Party wins the election, it will be committed to transforming the UK into a global tokenized asset center. (Bloomberg)