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Why the crypto community is optimistic about the new Prime Minister of the United Kingdom

 

Liz Truss is set to become the next Prime Minister of the United Kingdom after winning the election to replace Boris Johnson as leader of the Conservative Party.


Ms. Truss's response to the cost-of-living crisis, which she has pledged to look into within days of taking office, will likely demonstrate both her ability to take office and the prospects for her own mandate at a subsequent general election.


Interestingly, cryptocurrency insiders are interested in how the new British Prime Minister deals with cryptocurrencies.


In 2018, she tweeted, “We need to accept cryptocurrencies” in a way that doesn't limit its potential and frees up entrepreneurship by eliminating rules that hinder prosperity.

The UK and the field of cryptography


Notably, a recent study revealed that along with the US and Ukraine, the UK is a leader in the general use of cryptocurrencies globally. The study considered the number of cryptocurrency owners in a given country, the decentralized global finance (DeFi) adoption index, the number of companies that allow crypto payments, the number of Bitcoin ATMs (BTC), and the volume of monthly searches for crypto terms.


Interestingly, in light of the growing crypto sector, a British parliamentary group also launched an investigation in August to force further regulation of the crypto space.


Truss will deal with a severe energy crisis


It is also worth noting that Truss' campaign for party leadership was not without controversy. When asked how she would deal with the issue of the rising cost of living, she replied that she would focus her efforts on "reducing the tax burden, not giving alms."


Apparently, members of the Liz Truss team are already shifting their focus to the urgent task of announcing what kind of help might be on the way to help consumers with rising energy costs.


Truss promised to present a strategy within a week when it is expected to announce proposals to reduce household energy costs and boost the country's long-term energy supply.


It was reported on August 31 that the UK economy was on the verge of stagflation as it gradually reduced its dependence on Russian energy imports, with rising energy and food prices, lower household purchasing power, diminishing savings rates, and difficulty in obtaining credit.

Comments

  1. WisebitcoinSeptember 22, 2022 at 6:18 AM

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