Great Britain has a new head of government. Boris Johnson’s successor is considered a proponent of cryptocurrencies – is the island now becoming a crypto paradise?
• Liz Truss is Britain’s new Prime Minister
• In 2018 she spoke out pro-crypto
• Will her opponent’s crypto agenda continue?
Mary Elizabeth “Liz” Truss has only been in office for a few days. Her inauguration has raised hopes, particularly in the crypto community, as the new prime minister has positioned herself as crypto-friendly in the past.
Truss is considered pro-crypto
As part of her political activities, Truss had previously been open to cryptocurrencies such as Bitcoin, Ether & Co., as a tweet from 2018 proves:
“We should welcome cryptocurrencies and not limit their potential,” the politician wrote years ago. It was also said that “free enterprise” should be freed, and she also advocated the abolition of “prosperity-reducing regulation”.
Will the UK become the leading crypto nation?
The positive statements made by the new Prime Minister on the subject of cryptocurrencies gave the crypto community hope that the government under Truss could strengthen the role of digital assets and exploit the potential of Bitcoin & Co. without putting cryptocurrencies on the regulatory chain.
On the online portal of the Indian business newspaper Livemint, Dileep Seinberg, the founder and CEO of MuffinPay, Bill Payment & Utility Crypto, formulates his hopes for the crypto policy of Great Britain under the new Prime Minister:
“Liz Truss, the newly elected Prime Minister of the United Kingdom, gave cryptocurrencies a thumbs up in 2018, but that was four years ago and we should wait and see what her current stance on it is. Moreover, she is responsible for meeting the expectations of her fellow citizens and representing a nation on a global scale. There is still much more to do and we hope something positive will emerge in the coming days.”
In general, though, Seinberg is optimistic about the UK government’s approach to crypto: “Your election to represent the UK will likely drive the government’s digital assets agenda. She could be at the forefront and emerge as the new voice of crypto-led discussions on a global scale emerge, and Britain, a prominent G-20 nation, could lead the way.”
Crypto efforts have been around for quite some time
The path to making the UK a leader in crypto has been paved on the island for some time. Partly responsible for this was Rishi Sunak, the former chancellor of the exchequer who lost out to Truss in the race for the prime ministerial post. For his part, Sunak had always positioned himself as crypto-friendly, having worked as part of the UK government on a plan put forward in April that would see the UK become a global crypto hub. In this regard, the government had, among other things, taken steps to allow stablecoins as a means of payment, as well as a number of other measures aimed at making the UK a global hub for cryptoasset technology and investments. This is his goal, Sunak said in the spring.
Whether Liz Truss will continue this agenda or pursue her own crypto policy remains to be seen in the coming weeks.