The UK will hold a general election on July 4, and the Conservative Party may step down. The future of the cryptocurrency center plan is unclear

The UK will hold an early general election on July 4, which may cause the pro-cryptocurrency Conservative Party to lose power. The Conservative Party is committed to making the UK a cryptocurrency center and promoting legislation to recognize digital assets as regulated financial services. In March of this year, Prime Minister Rishi Sunak reiterated the cryptocurrency legislation plan at 10 Downing Street. It is expected that stablecoin and pledge-related legislation will be introduced within weeks, but no specific plan has been proposed. In the 2019 general election, the Conservative Party won 365 seats in the House of Commons and the Labour Party won 202 seats. However, the Conservative Party has experienced four prime ministers, including Liz Truss, who served the shortest time, and Boris Johnson, who resigned due to scandal. According to the latest polls, the Labour Party is leading in the upcoming general election and plans to make the UK a tokenization center and supports the Bank of England's digital pound plan, but has not yet expressed its position on cryptocurrency legislation. This election is not only about the fate of the Conservative Party's governance, but will also affect the future of the UK's cryptocurrency center plan.