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Boris Johnson to Quit as Pressure From Ministerial Resignations Mounts

Camomile Shumba - CoinDesk
2022-07-07 11:32
U.K. Prime Minister Boris Johnson said he will resign Thursday after a series of ministers left his government amid a scandal over the appointment of Deputy Chief Whip Chris Pincher.
Former Chancellor of the Exchequer Rishi Sunak and Health Minister Sajid Javid were the first and most senior officials to resign on Tuesday, saying the public deserved a “government to be conducted properly,” and with “integrity.” About 60 members of government had quit by Thursday morning, Sky News reported.
On Wednesday, City Minister John Glen, who in April declared the U.K. "open for crypto business," also quit. He pointed more explicitly to the handling of the Pincher’s appointment and Johnson’s "poor judgment.” The government was also accused of throwing illegal parties during Covid lockdowns.
The resignations are likely to lead to delays in crypto legislation. Bank of England Deputy Governor Jon Cunliffe said on Wednesday that regulators’ plans for stablecoin legislation had already been delayed by the government disarray. In April, Glen and Sunak announced plans for crypto legislation packages, and the Treasury has since released a consultation on regulating systemic stablecoins.
Johnson became prime minister in 2019.
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