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Liz Truss, Britain\u2019s new prime minister, previously said: \u201cWe should welcome cryptocurrencies in a way that doesn\u2019t constrain their potential.\u201d Truss beat former Chancellor of the Exchequer Rishi Sunak, who had a plan to make the U.K. a crypto-friendly nation.<\/strong>\n<\/p>\n \n On Tuesday, Johnson will travel to Scotland to meet Queen Elizabeth to officially tender his resignation. The queen will then appoint Truss as Britain\u2019s new prime minister. Johnson announced his resignation in July after months of scandal.<\/p>\n Truss, 47, has promised to act quickly to tackle Britain\u2019s cost of living crisis. She also said that she will come up with a plan within a week to fight rising energy bills and secure future fuel supplies. \u201cI will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom\u2019s potential,\u201d Truss tweeted Monday.<\/p>\n The incoming British prime minister has not said much about crypto except for a tweet she made in January 2018. Truss wrote: \u201cWe should welcome cryptocurrencies in a way that doesn\u2019t constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity.\u201d<\/p>\n In contrast, Sunak had paved the way for the U.K. to become a crypto hub. He and Economic Secretary to the Treasury John Glen were the architects of a comprehensive and detailed plan to strengthen Britain\u2019s image as a hospitable place for crypto<\/a>. However, both Sunak and Glen quit Johnson\u2019s government in July.<\/p>\n Sunak said in April: \u201cIt\u2019s my ambition to make the U.K. a global hub for crypto asset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate, and scale up in this country.\u201d His colleague, Glen, similarly said:\n<\/p>\n We want this country to be a global hub \u2014 the very best place in the world to start and scale crypto-companies.<\/p>\n<\/blockquote>\n \n Truss will face an array of challenges as the new prime minister of Britain amid surging inflation. Recent data from the International Monetary Fund (IMF) showed that India had surpassed the U.K.<\/a> and become the world\u2019s fifth largest economy.<\/p>\nLiz Truss Becomes Britain\u2019s New Prime Minister<\/h2>\n
\nLiz Truss has won the race to become the new U.K. prime minister, beating former Chancellor of the Exchequer Rishi Sunak. The Foreign minister has won the Conservative Party leadership and will be taking over from Boris Johnson.<\/p>\n![\"\"](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/09\/truss-tweet.jpg?X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAYIWLWC3GPQWL5SMB%2F20220905%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20220905T202654Z&X-Amz-SignedHeaders=host&X-Amz-Expires=600&X-Amz-Signature=4bb54072d86c775f6d378577f2934bdbab7e8471e7249542fd6f919ca7b9c03a\")
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\nIn May, the U.K. government outlined its plans to support crypto adoption<\/a> in the Queen\u2019s speech, delivered by Prince Charles. The British government also affirmed its commitment<\/a> to regulate stablecoins. In July, officials from the U.K. and the U.S. discussed<\/a> broader crypto regulation. In the same month, the British Law Commission, a statutory independent body, published proposals<\/a> to reform laws relating to digital assets.<\/p>\n