Liz Truss, the Secretary of State for Foreign, Commonwealth and Development Affairs, was elected UK's next prime minister, beating former Finance Minister Rishi Sunak.
Truss secured 57.4% of votes, while Sunak got 42.6%. She has been the Secretary of State for Foreign, Commonwealth and Development Affairs in the UK since 2021 and Minister for Women and Equality in 2019.
This new post is significant for cryptocurrency advocates as Truss previously favored an anti-regulatory approach to digital assets. "We should welcome cryptocurrencies in a way that doesn't constrain their potential," she said in 2018.
In her role as Secretary of State for International Trade, Liz Truss launched a digital trade network in 2020 that promotes fintech firms, among several other important measures as part of the country's efforts to remain at the forefront of development in space.
It is unclear how Truss' previous policy positions on crypto may influence her views going forward as prime minister. On Monday, she reportedly said that she had "a bold plan" to cut taxes and grow the UK economy.
In response to the financial services and markets bill advanced by Sunak and former City Minister John Glen, which regulates payments in stablecoins, Truss indicated she would support the part of the bill that gave lawmakers discretionary powers to intervene when regulators threatened political reforms after Brexit.
