In Crypto We Truss – How Will Lizz Truss’s Resignation Affect Bitcoin, Ethereum, and Big Eyes Coin.

After Liz Truss steps down from her ministerial post, what will happen to the UK’s crypto market? When Truss was UK Secretary of State for International Trade, she spoke about blockchain technology in a positive light during a House of Commons debate.

This insinuated that there would be significant changes for crypto in the UK on the horizon when Truss took over the leadership of the UK. Now the newly appointed British Prime Minister Rishi Sunak is reversing the changes she has made. What will happen to the potential change in crypto laws in the UK? And how will this affect cryptocurrencies like Big Eyes Coin (BIG), Bitcoin (BTC) and Ethereum (ETH)?

Bitcoin is not properly regulated in the UK

Currently, cryptocurrencies as a whole are not adequately regulated in the UK. The UK’s Financial Conduct Authority (FCA) continuously checks that Bitcoin and other altcoins firms are thoroughly investigated to ensure they have anti-money laundering and anti-terrorist financing procedures in place. Apart from this, cryptocurrencies are highly unregulated in the UK

Although Truss has stepped down, the new Prime Minister Rishi Sunak, who previously worked as Finance Minister, also has a positive view of cryptocurrencies. Before becoming prime minister, Sunak stated: “The measures we have outlined today will help ensure that businesses can invest, innovate and scale up in this country,” as he announced a series of initiatives towards the government’s goal of making the nation a hub for cryptocurrency investment and technology.

Suppose the current prime minister sticks to his previous claims and provides more regulation for cryptocurrencies. If so, this could mean that Bitcoin (BTC) could have more UK investors in the future who want to keep their money in a decentralized location.

Ethereum may be on the rise in the UK

As mentioned, if the new Prime Minister Rishi Sunak sticks to what he has previously stated while he is Chancellor of the Exchequer, it could be a new era of crypto in the UK. The initiatives mentioned earlier could allow for more regulation of crypto firms.

Currently, there are 3.3 million people who own cryptocurrency in the UK With a population of 68.7 million people, the amount that owns crypto is about 4.8%. If crypto usage regulations change under the new PM, Ethereum sales could skyrocket.

Big Eyes Coin may strike in the UK

Big Eyes Coin is a new cryptocurrency in the form of a meme coin. The decentralized crypto coin is an ECR-20 token. This means it is built on top of the Ethereum blockchain, making the coin secure and decentralized.

The coin will benefit significantly if the regulations change in the UK and will have more potential buyers. Having raised $9 million in the pre-sale could see the coin tip over into the double digits.

With the current economic climate in the UK, there are better ideas than having your currency in the form of British pounds. The GBP has crashed significantly and hit a record low in September with a value of £1, the equivalent of $1.038.

This can cause people to want to convert their money into different currencies or, even better, transfer it to a newer cryptocurrency like Big Eyes Coin. Since the coin is a decentralized form of currency, people don’t have to worry about third-party control over their money in such a difficult time.

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