Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Crypto leaders have focused on the UK Labor Party ahead of the election.
BLOCKCHAIN NEWS

Crypto leaders have focused on the UK Labor Party ahead of the election.

By Crypto FlexsJune 12, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Crypto leaders have focused on the UK Labor Party ahead of the election.
Share
Facebook Twitter LinkedIn Pinterest Email

As the UK prepares for a snap election on July 4, the cryptocurrency industry is strategically turning its attention to Keir Starmer’s Labor Party.

As reported by Bloomberg, this change of course comes amid widespread uncertainty about the future of cryptocurrency regulation in the UK following Chancellor Rishi Sunak’s sudden call for an early election.

Recent events have highlighted the cryptocurrency sector’s proactive efforts to build strong ties with UK lawmakers. For example, just days before Sunak’s announcement, cryptocurrency executives gathered on the House of Commons terrace at an event hosted by Coinbase, demonstrating the industry’s ongoing efforts to influence UK politics.

With representatives from both major political parties in attendance, the cryptocurrency sector is increasingly targeting Labor, which has a significant lead in opinion polls.

The UK’s cryptocurrency regulatory environment is still somewhat fragmented. The Financial Conduct Authority (FCA) has imposed strict rules, including banning UK companies from offering cryptocurrency derivatives and exchange-traded notes (ETNs) to retail consumers.

These measures aim to protect consumers and mitigate potential harm. However, the FCA allows professional investors, including investment firms and credit institutions, to participate in these products under certain conditions.

Currently, the UK’s regulatory framework for cryptocurrencies is limited, with the FCA overseeing anti-money laundering (AML) and terrorist financing (CFT) regulations. Crypto asset service providers must register with the FCA and implement robust AML and CFT measures, including KYC and CDD procedures.

The FCA has also published a discussion paper on regulating fiat-backed stablecoins, aiming to align regulatory standards with existing financial products while taking into account their unique risks.

Given these regulatory issues and the upcoming election, the cryptocurrency industry is keenly focused on Labor’s potential policies. Although Starmer has not explicitly stated his position on cryptocurrencies, Labor’s consistent lead in opinion polls has the industry bracing for a possible shift in political power.

The industry has been working with key figures in the Labor Party, including Labor shadow chancellor Rachel Reeves and shadow cities secretary Tulip Siddiq, and hopes they can lead efforts to revive London’s status as a global financial center post-Brexit.

Last January, Coinbase hosted a breakfast roundtable with Reeves at the World Economic Forum, highlighting the industry’s strategic engagement with Labor leaders. Executives from major venture capital firms and fintech companies participated in the discussion, reflecting their high stake in the cryptocurrency sector.

In addition to high-level engagement, the cryptocurrency industry is also focusing on grassroots outreach to Labor strongholds. This change in strategy aims to move away from a purely market-driven narrative and demonstrate the real benefits of digital assets for ordinary people.

Despite industry efforts, the UK still lags behind other financial centers in enforcing comprehensive cryptocurrency regulation. The European Union (EU) adopted a wide-ranging cryptocurrency bill this month that is expected to implement MiCA.

By contrast, the UK relies on a patchwork of rules, mainly enforced by the FCA. A UK Treasury plan outlined in early 2022 proposed regulating digital assets similarly to traditional financial services, but progress has been slow. The Treasury Department proposed additional regulatory overhauls this year.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

BNB price forecast: Target $ 890- $ 900 in September 2025.

August 31, 2025

What happened in Crypto today

August 26, 2025
Add A Comment

Comments are closed.

Recent Posts

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025
Most Popular

Cardano (ADA) price may have reached a local high.

September 7, 2024

Spot Bitcoin ETF Approval Likely in January, But Ethereum Is a ‘Completely Different Animal’: Bloomberg ETF Analyst

December 16, 2023

Analyst sees Bitcoin hitting new all-time highs around halving, talks about BTC mirroring pre-ETF movement.

April 15, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.