UK City Minister, Crypto Proponent John Glen Resigns as Ministers Quit Johnson Government

In April, Glen outlined the U.K.'s ambitions to become a crypto hub and produce a regulatory package for crypto assets.

AccessTimeIconJul 6, 2022 at 12:30 p.m. UTC
Updated Jul 6, 2022 at 1:25 p.m. UTC

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

U.K. City Minister John Glen resigned from the government Wednesday, following former Chancellor of the Exchequer Rishi Sunak in leaving the Treasury. Glen was also Economic Secretary to the Treasury.

In a post on his Twitter feed, Glen cited the handling of the appointment of the former Deputy Chief Whip Chris Pincher and the "poor judgement" of Prime Minister Boris Johnson among the reasons that "made it impossible for me to square continued service with my conscience."

In April, the former minister outlined the U.K.'s ambitions to become a crypto hub and produce a regulatory package for crypto assets.

“We want this country to be a global hub – the very best place in the world to start and scale crypto companies,” he said at the Innovate Finance Global Summit in London, according to a published version of his speech. “If there is one message I want you to leave here today with, it is that the U.K. is open for business – open for crypto businesses.”

Johnson has faced calls to resign after admitting he had ignored allegations of misconduct when he appointed Pincher.

Sunak and former Health Minister Sajid Javid resigned on Tuesday. Sunak was replaced by Nadhim Zahawi, who was previously the secretary of state for education, and Javid by Steve Barclay, who had been a minister of the cabinet office.

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Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

CoinDesk - Unknown

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.