Bim Afolami appointed as Economic Secretary to the Treasury, to oversee UK's crypto policies

Bim Afolami, a Member of Parliament, has been appointed by King Charles II as the new Economic Secretary to the Treasury of the United Kingdom. Afolami's appointment is part of a restructuring of ministers and secretaries. As Economic Secretary, Afolami will oversee policies related to digital assets and central bank digital currencies in the UK. The self-regulatory trade association CryptoUK plans to brief Afolami on the potential contributions of crypto to the UK economy and other challenges in the sector. The UK government has been addressing policies related to AI, fintech, and the metaverse through regulation, enforcement actions, and investigations.