The United Kingdom is preparing to elect a new government on July 4.
At the same time, the future of cryptocurrency in the country remains uncertain. A recent survey reveals that voters, particularly young people, are eager for lawmakers to take this growing sector into account.
Voters Call for Political Action
A survey conducted among 3,124 British adults aged 18 to 34 showed that one-third of them are concerned about the future of cryptocurrency in the United Kingdom.
Among this group, a similar number believe that lawmakers must pay attention to the industry’s growth.
Moreover, this concern is partly due to the departure of some pro-crypto parliamentarians from the government. Indeed, Lisa Cameron, an MP who supported pro-cryptocurrency policies, announced she would not run in the next elections.
The Conservative government under Rishi Sunak’s leadership had initially planned to introduce a regulatory framework for cryptocurrencies and payment stablecoins in July. However, the Prime Minister’s surprise announcement of the general election has delayed these plans.
“After the elections, it will take time to determine the new government’s stance on cryptocurrencies,” said Eleanor Gaywood, Head of Strategy at Coincover, a British cryptocurrency company. “It is encouraging to see that both main parties support regulatory frameworks that favor innovation, but we need concrete plans.”
Neither Keir Starmer, the Labour Party leader, nor Rishi Sunak mentioned cryptocurrency or blockchain during their last televised debate on June 26.
However, with polls predicting a potential government change, some players in the cryptocurrency sector have reached out to Labour Party officials.
Meanwhile, the United States is Entangled in Political Controversies
In the United States, candidates from the two main parties are grappling with the fallout of political controversies, court decisions, and debate performances.
Following the June 27 debate with Donald Trump, reports suggest that U.S. President Joe Biden has no intention of withdrawing from the race. However, he may consider this option.
On July 1, the U.S. Supreme Court ruled that Mr. Trump had immunity from prosecution for “official acts” while he was president. This delays the sentencing hearing for his 34 misdemeanor convictions.
The future of cryptocurrency in the United Kingdom and the United States will depend on the election results and the actions of the respective governments.
Indeed, voters have made it clear they want policymakers to take this sector into account. The sector is evolving rapidly, but it remains to be seen if these calls will be heard!
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