3 - 5 minute read
Member of Parliament Lisa Cameron has been advocating for crypto-related policies in the UK government since one of her constituents fell victim to a rug pull. Cameron, who chairs the country’s Crypto and Digital Assets Group and works closely with Prime Minister Rishi Sunak, wants to make the UK a global hub for crypto-asset technology. Cameron believes in getting regulations in place that maximize the potential of the sector while protecting consumers. According to her, the fallout from the 2022 crypto market crash provided the UK with the opportunity to “sit up and take notice” of potential bad actors in the space.
“I think in the main it’s coming collectively from a cross-party basis of wanting to overcome obstacles, make sure that we have the guidance that we need and the regulations to maintain our position.”
Cameron shared her views with Cointelegraph at the Consensus 2023 conference in Austin, Texas. She said that digital assets seem to be less of a partisan issue in the UK, with lawmakers from different parties working together to make the UK a crypto hub. The UK government aims to regulate stablecoins and support “the safe adoption of cryptocurrencies” through the Financial Services and Markets Bill.
Cameron added that she was “not invested personally” in any cryptocurrency due to conflicts of interest that could affect her objectivity in legislation. However, she said that there was a system in place allowing UK lawmakers to hold digital assets. Cameron believes that it is essential to have regulations in place that protect consumers while allowing the crypto sector to flourish.
The MP’s advocacy for crypto-related policies has earned her a leadership position in the UK government. She believes that there will be very few people who will not have some involvement in the crypto sector over the next ten years, and Members of Parliament are not immune to what’s going on in the real world. Cameron’s position on digital assets aligns with that of the UK government, which aims to make the UK a global hub for crypto-asset technology.
#Consensus2023 Day 3!
— Cointelegraph (@Cointelegraph) April 28, 2023
Today is the last day of this year's event, but we can still find some great speakers!
Follow along for updates. pic.twitter.com/YSGcyfMGWO
The Bottom Line
The UK’s move towards regulating stablecoins and supporting the safe adoption of cryptocurrencies is a step towards making the country a global hub for crypto-asset technology. Lisa Cameron, the MP who chairs the country’s Crypto and Digital Assets Group, says that it is essential to have regulations in place that protect consumers while allowing the crypto sector to flourish. Cameron believes that there will be very few people who will not have some involvement in the crypto sector over the next ten years, and Members of Parliament are not immune to what’s going on in the real world. Traders should keep an eye on the developments in the UK in the crypto space as it could have an impact on the future market moves.
