Liz Truss will become the next prime minister of the United Kingdom after winning the election to lead the Conservative Party with 57.4% of the vote from members as opposed to Rishi Sunak’s 42.6%.
Liz Truss, the secretary of state for foreign, Commonwealth, and development affairs, won the contest to lead the Conservative Party over Rishi Sunak, the former Chancellor of the Exchequer, and will take office as the next prime minister of the United Kingdom.
Truss will take over as the party leader after Boris Johnson, who has been the prime minister since January 2019, leaves office. Truss defeated Sunak in the election with 57.4% of the vote to Sunak’s 42.6%.
Since 2021, Truss has served as three different prime ministers’ secretaries of state for foreign, commonwealth, and development affairs in the UK, as well as minister for women and equalities since 2019.
Truss promoted a laissez-faire attitude toward regulation of digital assets while she was in office, saying in 2018 that the U.K. “should welcome cryptocurrencies in a way that doesn’t constrain their potential.”
Liz Truss also started a digital trade network in 2020 as the Secretary of State for International Trade, among other initiatives that support fintech companies.
It’s unknown whether Sunak, who has also espoused pro-crypto statements, will have a seat in Truss’ cabinet or how her prior policy positions on cryptocurrency may impact her views moving forward as prime minister.
The 47-year-old allegedly claimed to have “a bold proposal” on Monday to lower taxes and boost the British economy. The government is presently thinking about how to regulate stablecoins and the use of cryptocurrencies in the nation. After accepting Johnson’s resignation, Queen Elizabeth II is anticipated to officially name Truss as the new prime minister on Tuesday.