Kemi Badenoch has been chosen as the new leader of the Conservative Party, succeeding Rishi Sunak after his resignation. Despite the Conservative Party’s previous support for crypto, the topic was not discussed during the leadership race between Badenoch and Robert Jenrick.
While Badenoch has not publicly shared her views on cryptocurrency, she has advocated for a new integration strategy for individuals entering Britain. As a member of parliament for North West Essex, she has held various ministerial roles in the past, emphasizing the importance of financial services in the economy and calling for balanced regulation.
It is worth noting that the Conservative Party has historically been friendly towards crypto, proposing regulations to treat digital assets as financial activities and aiming to establish the UK as a cryptocurrency hub. However, the lack of discussion on crypto during the leadership contest raises questions about the party’s future stance on this emerging technology.
In other news related to the financial markets, short-term holders have been panicking amidst Bitcoin’s recent drop, leading to $295 million in long liquidations. On the political front, Kamala Harris’ winning odds have increased on Polymarket, while the SEC has taken action against Immutable. Additionally, Robinhood is strategizing its next steps after Q3 earnings, and there are signals of further bullishness in the market with mega ETF inflows and increased Bitcoin wallet activity.
As the new leader of the Conservative Party, Kemi Badenoch’s approach to crypto and other financial innovations remains to be seen. Her previous roles and statements suggest a focus on supporting the economy through effective regulation, but the silence on crypto during the leadership race leaves room for speculation on the party’s future direction in this rapidly evolving sector. It will be interesting to see how Badenoch’s leadership shapes the Conservative Party’s stance on cryptocurrency and technology in the coming months.