Following the Labour Party’s landslide victory on July 4, crypto advocates in the UK are calling for a continuation of the policies started under the previous Conservative government. Labour, which won 412 seats in the 650-seat House of Commons, will now lead the government with Keir Starmer as the new Prime Minister.
Despite the change in leadership, industry leaders like Bivu Das from Kraken and Keld van Schreven from KR1 believe that the UK’s crypto policy will largely remain “business as usual.” They emphasize the importance of maintaining momentum in innovation and growth within the crypto sector.
Before the election, the UK government had planned to introduce a regulatory framework for cryptocurrencies and payment stablecoins in July. However, with the new government and parliamentary recesses, these plans may face delays.
Rachel Reeves has been appointed as Chancellor of the Exchequer, a key position for financial and economic matters, while the Economic Secretary to the Treasury has yet to be named.
CryptoUK, a self-regulatory trade association, has called on the new government to prioritize clarity and proactive policy-making for the crypto industry, stressing the need for a comprehensive strategy.
Disclaimer: The information provided on CoinsLately is for informational and educational purposes only. CoinsLately does not provide investment, financial, or legal advice. The content on this site represents the opinions and views of the authors and should not be considered as professional financial advice.
Cryptocurrency investments are highly speculative and involve substantial risk. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. CoinsLately and its authors are not responsible for any financial losses or damages incurred as a result of the information provided on this site.
