Liz Truss is expected to become the next prime minister of the United Kingdom after winning the election to succeed Boris Johnson as leader of the Conservative Party.
It is probable that Ms Truss’s reaction to the cost-of-living problem, which she pledged to execute within days of joining the office, may define both her premiership and her chances of obtaining a mandate at the next general election.
Intriguingly, individuals in the bitcoin industry are curious about how the incoming British prime minister would handle cryptocurrencies.
Notably, a recent survey indicated that with the United States and Ukraine, the United Kingdom is a worldwide leader in crypto use. The research included the number of crypto owners in a nation, the worldwide decentralized finance (DeFi) adoption index, the number of companies that accept crypto payments, the number of Bitcoin (BTC) ATMs, and the monthly volume of cryptocurrency-related searches.
Interestingly, in August, a UK Parliamentary Group initiated an investigation on the need for more regulation of the crypto space in light of the sector’s expansion.
It is also important to note that Truss’s bid for party leadership has not been without controversy. When asked how she would handle the problem of the growing cost of living, she said that she would focus on “reducing the tax burden, not giveaways.”
Apparently, the members of Liz Truss’s team are already diverting their attention to the urgent goal of announcing the kind of help that may be forthcoming to assist customers with their escalating energy expenses.
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