The UK recently concluded its transition to power following former prime minister, Boris Johnson’s resignation. Liz Truss clinched the position after defeating fellow candidate, Rishi Sunak in the race to become the next PM.
Rishi Sunak and Liz Truss have been outspoken about cryptocurrencies and blockchain technology. However, unlike Sunak, Liz Truss is more reserved in her comments on crypto. With Liz’s crypto interests, it appears that the UK will be more crypto-friendly than ever.
A recent statement from the UK’s Economic Secretary confirms that the UK government is bent on amplifying the UK’s position as a crypto-friendly country. The UK is gradually accepting cryptocurrencies, however, under the terms that it oversees its operation and distribution in the country.
While the UK’s government continues to express the desire to include crypto and blockchain innovation as part of their tech schemes, it is still uncertain whether the bill will be passed.
Meanwhile, Ripple, Avalanche, and Big Eyes Coins are three cryptocurrencies ready to shoot to the moon in the coming crypto summer, here is more to them:
Could crypto regulations favor Ripple?
Ripple has has a fair share of backlash from crypto regulation. A good example is its lawsuit with the SEC. Ripple (XRP) has been alleged to be a security that may warrant certain customs and duties. Meanwhile, the Ripple team has denied distributing the token as a security.
Could the UK’s friendliness encourage Ripple to thrive in the country’s economy without any potential regulatory risk? Well, this question is up to the government. Ripple has maintained its stance on discounting in the US where it has faced the most regulatory setback.
It coin has also thrived in the crypto market regardless of the situation. Ripple’s community [the XRPArmy] has also played a role in keeping the asset relevant in the market. Ripple could lead gains when the market sets fine because, over the course of the crypto winter, its developers and marketer have strengthened partnerships with many institutions and products.
Avalanche set to maintain a steady uptrend
Avalanche is another cryptocurrency and network that has not compromised its uptrend position when viewed on the chart from the monthly time frame. You could see that it last bottomed in June 2022, and is set to reach the moon by 2023.
Holders of Avalanche (AVAX) expect a sudden surge in the crypto market cap when strong favorable news and sentiments arise over its network or market. Now could be a good time to hodl.
Big Eyes Coin is hitting target over presale
Big Eyes Coin is one cryptocurrency whose explosion is imminent. It will offer so much to the crypto community including liquidity mining, staking, and NFT creation.
Big Eyes Coin is already building its community over presale and is set to launch on Uniswap as soon as the presale ends. You could become part of its community now with as little as 1 USDT, or wait until IDO to get as many tokens as possible at a higher price— this includes losing the chance to get early bird rewards over the presale.