Incoming British PM Liz Truss is (potentially) crypto friendly
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The Poms have a new Tory PM. Liz Truss is her name, and if her past statements about cryptocurrencies and blockchain hold true, then it’s likely decent news for the crypto industry in the UK.
That said, it’s not quite time for the Old Dart’s crypto faithful to pop the champers just yet. Maybe just a pint of something refreshingly tepid, instead. And that’s because the Truss statements aren’t exactly fresh. But let’s dig them up anyway.
This one, from the former Foreign Minister under Boris “Making Up Stuff Since 1988” Johnson is more than four and a half years old, but hey, we’ll take it…
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
Truss actually made that comment when she was the Chief Secretary to the Treasury.
Then in 2020, as reported by Decrypt, while serving as the Secretary of State for International Trade, Truss launched a digital trade network, remarking that she wanted to “create great opportunities in areas such as blockchain”.
“We want to achieve a world-leading data and digital agreement, underwriting data flows but also dealing with issues like blockchain and artificial intelligence,” said Truss at the time, “thereby making sure that we and the US are leading the world and able to share these economic opportunities.”
Truss beat the former Chancellor of the Exchequer Rishi Sunak to No. 10 Downing Street this week. Sunak might well have been the better crypto-positive result in the short term, however. And that’s because this year he expressed plans to make Britain an “extremely hospitable place” for digital assets.
“It’s my ambition to make the UK a global hub for cryptoasset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate, and scale up in this country,” said Sunak in April.
Perhaps Sunak can still fulfil these aims from within the Truss cabinet, if he can squeeze his way in there, that is.
Besides all this, though, let’s not forget, Prince Charles outlined the UK government’s plans to support crypto adoption in the Queen’s speech only a few months ago in May.
Maybe QE II has got a few Crypto Corgis tucked away on a hardware wallet at the back of the Royal Sock Drawer.