UK and US Team Up to Shape Crypto Rules
A New Partnership for Digital Asset Advocacy
The UK and US are joining forces to shape the future of cryptocurrency rules. CryptoUK, a UK-based group supporting crypto and blockchain, has teamed up with The Digital Chamber, a similar group in the US. This partnership could lead to more collaboration between the two countries on digital asset regulations.
Background and Goals
Both groups have been working hard in their own countries to promote policies that help the crypto industry. The Digital Chamber started in 2014, and CryptoUK began in 2018. Now, they are joining forces to create a stronger, cross-border platform for advocacy.
Legislative Efforts
- US: Lawmakers are working on a bill to establish clear rules for the digital asset market.
- UK: Policymakers are looking to collaborate with the US to explore crypto laws and regulations.
This partnership comes at a time when both countries are focusing on the crypto industry.
Support and Advocacy Groups
The Digital Chamber has gained support from former regulators and members of Congress. Other US-based crypto advocacy groups include:
- Solana Policy Institute
- Blockchain Association
- Crypto Council for Innovation
- American Innovation Project
Bank of England's Move on Stablecoins
In other news, the Bank of England has released a consultation paper proposing a framework for stablecoins. This move is seen as the UK trying to catch up to the US, where the government has already passed a law regulating payment stablecoins. The Bank of England's deputy governor, Sarah Breeden, has emphasized the importance of being synchronized on rules with the US.
Future Implications
This partnership and the Bank of England's move show that both countries are serious about creating clear and fair rules for the crypto industry. It will be interesting to see how this collaboration unfolds and what impact it will have on the future of digital assets.
