New Prime Minister of the UK ‘Liz Truss’ a Crypto Advocate?

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  • Truss will be formally appointed on Tuesday as the next Prime Minister.
  • Truss tweeted in 2018 that the United Kingdom should embrace cryptocurrency.

To become the next Prime Minister of the United Kingdom, Liz Truss has prevailed against crypto advocate Rishi Sunak. After former Prime Minister Boris Johnson submitted his resignation to the Queen on Monday, Truss will be formally appointed on Tuesday.

After taking office in February 2020, Sunak served as Chancellor of the Exchequer until July 2022. He had an outspoken fascination with crypto throughout his term. In addition, in April of this year, he stated his intention to transform the United Kingdom into a crypto-friendly innovation hub. More importantly, he announced that this summer, the Royal Mint will begin issuing NFTs. Thanks to his work, stablecoins are now legally recognized as a means of payment in the United Kingdom.

Reason For Optimism 

Given the vow to turn the UK into a “crypto hub,” many in the crypto world are now worried that Struss won the election against Sunak. Yet there is a reason for optimism; Struss, herself, seems to be a strong proponent of the developing asset. That’s what she’s stated in the past, at least.

Truss was the UK’s Trade Minister in 2020, the year in which Brexit was accomplished. Truss, had said that the country might “create great opportunities in areas such as blockchain.” However, the word “crypto” was not used once in her whole remark. In addition, Truss tweeted in 2018 that the United Kingdom should embrace cryptocurrency.

Truss does appear to be a proponent of the growing asset based on what has been stated in the past; however, she has not made any public statements about cryptocurrencies or blockchain during her campaign. However, Sunak included it heavily in his campaign. Adding To add salt to the wound, Sunak is not expected to be a member of Truss’s government.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.