Liz Truss has emerged as the next prime minister of the UK after winning the election under the Conservative Party, she has formerly welcomed the idea of cryptocurrencies in the UK.
Liz Truss, the secretary of state for foreign, Commonwealth, and development affairs won the contest to lead the Conservative Party over Rishi Sunak, the former Chancellor of the Exchequer, and will take office as the next prime minister of the United Kingdom.
Truss will take over as the party leader after Boris Johnson, who has been the prime minister since January 2019, leaves office. Truss won the election with 57.4% of the vote from members compared to Sunak’s 42.6%.
Since 2021, Truss has served as three different prime ministers’ Secretary of State for Foreign, Commonwealth, and Development Affairs in the UK, as well as minister for women and equalities since 2019.
Truss promoted a laissez-faire attitude toward the regulation of digital assets while she was in office, saying in 2018 that the U.K. “should welcome cryptocurrencies in a way that doesn’t constrain their potential.”
She also started a digital trade network in 2020 as the Secretary of State for International Trade, among other initiatives that support fintech companies.
It’s unknown whether Sunak, who has also espoused pro-crypto statements, will have a seat in Truss’ cabinet or how her prior policy positions on cryptocurrency may impact her views moving forward as prime minister.
She allegedly claimed to have “a bold proposal” on Monday to lower taxes and boost the British economy. The government is presently thinking about how to regulate stablecoins and the use of cryptocurrencies in the nation.
After accepting Johnson’s resignation, Queen Elizabeth II is anticipated to officially name Truss as the new prime minister on Tuesday.
