Self-regulatory trade association CryptoUK has reported that approximately 5% of all UK Members of Parliament (MPs) have spoken publicly about cryptocurrencies and blockchain, suggesting a lack of awareness.
In a report published on December 14, CryptoUK analyzed MP sentiment between 2022 and 2023 and found that only 37 lawmakers specifically mentioned cryptocurrencies and blockchain – 5.7% of the 650 members. Some of the UK government's leading voices in 2023, according to CryptoUK, included MP and former Chancellor of the Exchequer Andrew Griffith and Lisa Cameron, cryptocurrency advocate.
“It is important that MPs from all parties and from all corners of the UK have a better understanding of the cryptoasset industry,” a CryptoUK spokesperson said. “Almost five million people [...] in the UK have some form of exposure to crypto assets, while tens of thousands of people work in the industry in the UK, supporting their local economies and helping the British economy grow.”
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Prime Minister of the United Kingdom Rishi Sunak He said he planned to make the country a “global hub for cryptoasset technology” under his government. Lawmakers have already been moving forward with plans to establish a regulatory framework for stablecoins and crack down on illicit uses of cryptography. Since October, Financial Conduct Authority officials have imposed restrictions on crypto companies Promotion of projects among UK residents.
The next general election in the UK is expected to be held before January 2025, at which point it is unclear whether Sunak's Conservative government will remain in power.
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