- UK voters are calling for political candidates to address cryptocurrency policies ahead of the July 4th general election that could see the Labour Party replace the Conservatives.
- A poll found around one-third of young UK voters want lawmakers to consider the growth of the crypto industry and are concerned about its future under a new government.
- While neither major party leader has explicitly mentioned crypto plans, the election outcome will likely impact how the UK regulates digital assets moving forward.
As the United Kingdom gears up for a pivotal general election on July 4th, many voters want to see crypto-friendly policies from the winning party. Polls indicate that the Labour Party may defeat the ruling Conservative Party, signaling a potential shift in the UK’s approach to cryptocurrency regulation.
Calls for Crypto-Friendly Policies
According to a recent survey, around one-third of UK adults aged 18-34 said they were worried about the future of crypto under the new government. Additionally, a similar percentage said that UK lawmakers should consider the growth of the crypto industry when making policy decisions.
This opinion seems to be influenced by the departure of some crypto-advocating MPs like Lisa Cameron, who promoted pro-crypto legislation but will not stand for re-election. As the UK crypto community nervously awaits the election outcome, many hope the new government will take a supportive stance.
Conservative and Labour Positions
So far, neither Prime Minister Rishi Sunak nor Labour leader Keir Starmer have mentioned crypto in recent debates and speeches. However, some crypto executives are reportedly lobbying key Labour officials, anticipating the party’s victory.
While the Conservatives unveiled plans for crypto regulation this year, the election makes the timeline uncertain. As one industry leader said, concrete crypto plans from the new government will be needed regardless of the winner.
Crypto Regulation Abroad
Meanwhile, digital asset regulation remains a hot topic in the United States amid the 2024 presidential race. A recent Supreme Court ruling granted former President Trump immunity over acts in office, delaying his criminal sentencing.
Despite controversies, President Biden remains in the race for now, as candidates navigate the political landscape leading up to the US election.
Conclusion
As the UK election nears, many voters are calling for a government that will embrace cryptocurrency and its potential for driving innovation. The winning party will need to provide regulatory clarity to fully unlock the benefits of crypto and blockchain technology. Although the election outcome is uncertain, one thing is clear – crypto’s future in the UK hangs in the balance.
