New UK PM Liz Truss has supported crypto before


Liz Truss has emerged as the leader of the Conservative Party, edging her opponent and former chancellor of the exchequer Rishi Sunak. The post of British prime minister may soon be filled by a crypto-friendly MP.

After the poll to choose the party leader and, ultimately, the next Prime Minister of the United Kingdom, Sunak’s 60,399 votes were insufficient to overcome Truss’s 81,326 votes. Following the July 2022 announcement of Boris Johnson’s retirement, Truss is scheduled to assume office as early as Tuesday.

Indeed, the introduction of Truss has generated enthusiasm in the cryptocurrency world. Proponents of digital assets highlighted a 2018 tweet indicating the incoming British prime minister’s support for cryptocurrencies.

In a January 2018 tweet, Truss advocated for the acceptance of cryptocurrency and the elimination of restrictive restrictions. However, the politician has not openly advocated for crypto-friendly policies since then, according to reports.

In contrast, former Treasury Secretary Rishi Sunak publicly oriented the financial ecosystem of the United Kingdom toward digital assets and cryptocurrencies. In April 2022, Sunak’s Treasury issued a package of consultations aimed at legalizing stablecoins such as Circle’s USDC as a payment option.

The newspaper also said, as reported by EWN, that the Royal Mint will permit government-issued non-fungible tokens (NFTs) as part of ambitions to establish the United Kingdom as a crypto-friendly jurisdiction.

In fact, a pro-crypto Prime Minister in the United Kingdom might pave the way for a standardized digital asset economy that encourages innovation. At the time of publication, authorities like as the Financial Conduct Authority (FCA) have clamped down on crypto enterprises such as, forcing them to seek other sites.

Also Read: Congressman Sherman said Crypto has too much money and power to ban

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