King Charles II has approved the appointment of Member of Parliament Bim Afolami to the position of economic secretary to the Treasury of the United Kingdom.
In a Nov. 13 notice, the U.K. government said Afolami was one of several appointments in restructuring ministers and secretaries. As economic secretary, he will control many policies affecting the adoption of digital assets and central bank digital currencies in the United Kingdom.
Under U.K. Prime Minister Rishi Sunak, former Economic Secretary Andrew Griffith promoted policies turning the country into a crypto hub, including the introduction of stablecoins. Griffith has been appointed the next minister of state in the Department for Science, Innovation and Technology.
The self-regulatory trade association CryptoUK said it plans to brief Afolami on how crypto could potentially contribute to the U.K. economy as well as other challenges in the sector. Afolami met with senior figures from Coinbase in June 2022, saying at the time they discussed the regulatory environment and that it was “vitally important” to have an “appropriate regulatory regime” for certain financial services.
“We look forward to working with Bim Afolami as the new Economic Secretary and as the UK government continues to deliver on its ambitions of cementing the UK as a leading global hub for cryptoassets and blockchain technology,” said a CryptoUK spokesperson. “We strongly believe that the right regulatory and competitive market can benefit both businesses and consumers.”
The U.K. government has been addressing policies related to artificial intelligence, financial technology and the metaverse through regulation, enforcement actions and investigations. The latest shakeup in Prime Minister Sunak’s government came ahead of the next general election in the U.K., expected before 2025.
The UK has re-established diplomatic ties with Syria, David Lammy has said, as he made the first visit to the country by a British minister for 14 years.
The foreign secretary visited Damascus and met with interim president Ahmed al Sharaa, also the leader of the rebel group Hayat Tahrir al-Sham (HTS), and foreign minister Asaad al Shaibani.
In a statement, Mr Lammy said a “stable Syria is in the UK’s interests” and added: “I’ve seen first-hand the remarkable progress Syrians have made in rebuilding their lives and their country.
“After over a decade of conflict, there is renewed hope for the Syrian people.
“The UK is re-establishing diplomatic relations because it is in our interests to support the new government to deliver their commitment to build a stable, more secure and prosperous future for all Syrians.”
Image: Foreign Secretary David Lammy with Syria’s interim president Ahmed al Sharaa in Damascus. Pic: X / @DavidLammy
The Foreign, Commonwealth and Development Office has also announced a £94.5m support package for urgent humanitarian aid and to support the country’s long-term recovery, after a number of British sanctions against the country were lifted in April.
While HTS is still classified as a proscribed terror group, Sir Keir Starmer said last year that it could be removed from the list.
The Syrian president’s office also said on Saturday that the president and Mr Lammy discussed co-operation, as well as the latest developments in the Middle East.
Since Assad fled Syria in December, a transitional government headed by Mr al Sharaa was announced in March and a number of western countries have restored ties.
In May, US President Donald Trump said the United States would lift long-standing sanctions on Syria and normalise relations during a speech at the US-Saudi investment conference.
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From May: Trump says US will end sanctions for Syria
He said he wanted to give the country “a chance at peace” and added: “There is a new government that will hopefully succeed.
“I say good luck, Syria. Show us something special.”
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