UK Elects Crypto-Friendly Liz Truss as New Prime Minister

British Foreign Secretary Liz Truss is favorite to be next prime minister. GETTY IMAGES

The UK elects crypto-friendly Liz Truss as its new prime minister. This raises hope that the country will begin to actively develop regulatory legislation to accelerate the adoption of cryptocurrencies.

Liz Truss will become the next British Prime Minister after winning the election and will succeed Boris Johnson as leader of the Conservative Party. In the past, Truss has spoken positively about cryptocurrencies, which may now determine the path that the UK will take in the field. Finbold noted that she tweeted in 2018 that “we need to accept cryptocurrencies” in a way that does not limit their potential and frees up free enterprise by removing rules that prevent prosperity. In August, a UK Parliamentary Group also began an inquiry for further regulation of the space.

We should welcome #cryptocurrencies in a way that doesn't constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity. #PolicyExchange #futureoffreedom #shakeup

— Liz Truss (@trussliz) January 30, 2018

A recent study showed that along with the US and Ukraine, the UK is the leader in the overall use of cryptocurrency in the world. The study factored in the number of crypto owners in a country, the global decentralized finance (DeFi) adoption index, the number of businesses that allow crypto payments, the number of Bitcoin (BTC) ATMs, and the monthly search volume of cryptocurrency terms.

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