UK Election Front-Runners Remain Silent on Crypto Issues

This post was originally published on Coinspeaker

Despite political silence on crypto, the industry remains hopeful for regulatory clarity post-election.

As the UK ge­neral election approache­s on July 4, 2024, major political parties have largely avoide­d discussing cryptocurrency, leaving the industry’s future­ uncertain. Despite the­ Labour Party’s substantial lead in the polls, its campaign has scarcely touche­d on crypto, focusing instead on broader economic and social issue­s.

Labour’s Quiet Stance on Crypto

The Labour Party, led by Keir Starmer, is predicted to secure a majority with 42% of voter support, according to a June Ipsos survey. The Conservatives trail with 19%. Throughout the campaign, Labour has shown minimal interest in crypto, offering only vague references to promoting a pro-competition environment and supporting digital pound initiatives. 

During the final debate between Prime Minister Rishi Sunak and Starmer, topics like welfare, immigration, and the European Union took precedence, pushing crypto to the sidelines.

In contrast, Sunak’s Conservative government had previously pursued crypto-forward policies, yet their current manifesto also lacks significant crypto-related proposals. Despite this, industry insiders remain cautiously optimistic. Laura Navaratnam, UK policy lead at the Crypto Council for Innovation, noted that while Labour’s manifesto is silent on crypto, it hasn’t expressed negative sentiments either.


Read the rest of this post, which was originally published on Coinspeaker.

Previous Post

CoinDCX Acquires Rival Exchange BitOasis for Business Expansion

Next Post

Swedish Asset Manager Praises XRP For This Major Feature