UK Elects Crypto-Friendly Prime Minister Who Said Country Should Embrace Blockchain and Digital Assets

UK Elects Crypto-Friendly Prime Minister Who Said Country Should Embrace Blockchain and Digital Assets

The United Kingdom has elected a new prime minister whose past comments suggest that she is pro-crypto and blockchain technology.

Liz Truss, representing the UK’s Conservative Party, is expected to take over following current PM Boris Johnson’s planned resignation on September 6th.

In 2018, Liz Truss told her Twitter followers that she was looking to help open up crypto technology to innovation and free it from overly strict regulations.

“We should welcome cryptocurrencies in a way that doesn’t constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity.”

In a 2020 debate, Truss further touted her plans to foster blockchain development within the UK.

“We are also looking to rewrite the game on digital trade, to create a world-leading ecosystem that supports businesses of all sizes across the UK. This could include provisions that facilitate the free flow of data and prevent unjustified data localization requirements while maintaining our ability to protect users against online harm. We can ensure that customs duties are not imposed on electronic transmissions, and create great opportunities in areas such as blockchain, driverless cars and quantum technology…

We want to achieve a world-leading data and digital agreement, underwriting data flows but also dealing with issues like blockchain and artificial intelligence, thereby making sure that we and the US are leading the world and able to share these economic opportunities.”

Truss beat out Rishi Sunak, another crypto-friendly British politician, to obtain her new role.

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Featured Image: Shutterstock/Yurchanka Siarhei

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