The United Kingdom finally has a new Prime Minister in the face of Liz Truss, who is a staunch cryptocurrency advocate and spoke positively about the cryptocurrency industry several years ago. To become the UK’s next PM, Truss was chosen over Rishi Sunak (Chancellor of the Exchequer from 2020 to 2022), who also favors digital assets and collectibles. Earlier this year, he said that Britain will thrive economically if it became a global crypto hub.


It is safe to say that the political ecosystem in the United Kingdom has been highly unstable over the past few years. Their withdrawal from the European Union (commonly known as “Brexit”) combined with the pounce of the global COVID-19 pandemic caused economic and financial turbulence that continues to reign even in the aftermath of those issues.


Despite the strict anti-social rules (lockdown) announced by the government because of the COVID-19 pandemic, former Prime Minister Boris Johnson was caught organizing parties and dancing with his colleagues on numerous occasions, and those actions kickstarted his clash with society.


The main political battle over who is to be in charge of the UK was between Rishi Sunak (former Chancellor of the Exchequer and Johnson’s right hand) and Liz Truss (a member of the Conservative Party). Liz Truss won with 81,326 votes to 60,399, to become the next Prime Minister of the United Kingdom.


What’s interesting is that she seems to be a cryptocurrency proponent and advocate. In 2018, she advocated for removing regulations that halt the advancement of the crypto industry. She tweeted “We should welcome #cryptocurrencies in a way that doesn’t constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity.


As this moment, it remains unclear how her administration will tackle major issues, such as the record inflation in the Kingdom, and whether it will focus on developing the digital asset ecosystem in the United Kingdom.


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