MP Bim Afolami has been appointed as the UK's Economic Secretary to the Treasury, responsible for cryptocurrency and CBDC matters

ChainCatcher news, according to CoinDesk, MP Bim Afolami was appointed as the UK's Economic Secretary to the Treasury on Monday, responsible for cryptocurrency and central bank digital currency (CBDC) policy. Afolami succeeds Andrew Griffith, who had stated that despite the collapse of the cryptocurrency exchange FTX, he still hoped the UK would become a cryptocurrency hub.

During Griffith's tenure, he also helped pass the Financial Services and Markets Bill, which granted regulators more power over cryptocurrencies. Last year, Afolami met with executives from Coinbase to discuss issues related to the financial services environment. He wrote on the website: "It is crucial that we establish an appropriate regulatory framework for financial services."