UK Crypto Lobby Secretly Aligns with Digital Chamber to Shake Up Global Policy Landscape
Ever wondered what happens when UK and US crypto advocates decide to buddy up for a regulatory powwow? Well, CryptoUK, the UK’s heavyweight in cryptocurrency trade associations, has just hopped under the umbrella of the US-based Digital Chamber—kind of like an international crypto tag team aiming to reshape digital asset regulation. This partnership isn’t just about warm handshakes across the pond; it’s a strategic move aligning with heightened efforts by policymakers in both nations to harmonize crypto rules. Now, wouldn’t it be fascinating to see if this transatlantic alliance can crack the code on one of crypto’s most pressing puzzles: global regulatory clarity? Dive into the nitty-gritty and see how this cross-border advocacy might ripple through the blockchain world. LEARN MORE.
The partnership between the two advocacy groups was the latest move in efforts by US and UK policymakers to work closer together on crypto regulation.
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CryptoUK, a UK-based cryptocurrency trade association, has announced that it will join The Digital Chamber, a US crypto policy advocacy group, potentially marking a significant cross-collaboration on digital asset regulation between the two countries.
In a Tuesday notice, CryptoUK said its team would fall under The Digital Chamber’s umbrella as part of a “unified, cross-border advocacy platform.” Both groups have worked in their respective countries to promote policies favoring the cryptocurrency and blockchain industry, starting with The Digital Chamber in 2014 and CryptoUK in 2018.
“CryptoUK has always aspired to ensure we are driven by policy-led issues, member collaboration, and regulatory engagement,” said Su Carpenter, CryptoUK’s executive director.
The partnership between the two advocacy groups comes as US lawmakers move forward on negotiations to pass a digital asset market structure bill, aiming to establish regulatory clarity for the industry. In the UK, policymakers announced plans to collaborate with their counterparts in the US to explore crypto laws and regulations.
Related: Digital Chamber seeks to guide crypto policy across US states
US-based crypto advocacy organizations, such as The Digital Chamber, have garnered support from former regulators and members of Congress as the Trump White House directs policies toward the industry. Among these groups are the Solana Policy Institute, the Blockchain Association, the Crypto Council for Innovation, and the American Innovation Project.
UK central bank moves forward on stablecoins
On Nov. 10, the Bank of England released a consultation paper to propose a framework for “sterling-denominated systemic stablecoins.” The move by the country’s central bank marked a step toward the UK seeming to play catch-up to the US, where the government passed a law regulating payment stablecoins in July.
Bank of England Deputy Governor Sarah Breeden signaled before the publication of the paper that the central bank’s actions were in response to the US advancing stablecoin policies, and it was “really important” to be synchronized on rules.
Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice
