- Keir Starmer will be sworn in as Prime Minister after Rishi Sunak steps down.
- In contrast to the current US elections, crypto did not dominate the discourse in the UK.
In the UK general election, the Labour Party defeated Rishi Sunak’s conservative party by a wide margin, marking the first time in fourteen years that the party has been out of power. There is a lot of anticipation within the crypto community in the UK. As they await the outcome of the regulatory policy and other possibilities.
As soon as Rishi Sunak steps down from his position as prime minister of the United Kingdom, Keir Starmer will be sworn in. There will likely be a similar shift in the UK’s domestic cryptocurrency industry. Crypto companies in the UK, like their American counterparts, have been unable to go forward with big choices due to the government’s hazy regulations.
All Eyes on the New Prime Minister
In July, the previous Conservative administration was getting ready to regulate cryptocurrency. On the other hand, the country’s crypto ecosystem may need further time to be understood by newly elected Prime Minister Keir Starmer.
A potential lack of government advocacy might emerge from the resignation of crypto-friendly MPs like Lisa Cameron. The community is still waiting for the government to make more specific promises. Even if the Labour Party takes a good stance towards crypto. Voters in the UK have voiced their worries about this matter before.
In contrast to the current US elections, crypto did not dominate the discourse in the UK. According to Crypto Council for Innovation’s U.K. policy manager Laura Navaratnam, the Labour Party’s platform included language that seemed to advocate for a more competitive market.
It discussed regulators’ responsibilities, albeit in a more general sense. But there’s still no crypto. She did add, however, that they haven’t said anything bad either.
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