UK and US Crypto Advocacy Strengthen Ties Amid Regulatory Developments
CryptoUK, the UK-based cryptocurrency trade association, is set to join The Digital Chamber, a prominent US crypto policy advocacy group. This collaboration signifies a strategic move toward unifying regulatory efforts across the Atlantic, potentially shaping the future landscape of digital asset legislation through cross-border cooperation.
In an official announcement, CryptoUK stated that its team will operate under The Digital Chamber’s umbrella as part of a global advocacy network. Established in 2014, The Digital Chamber has played a vital role in US crypto policy, and CryptoUK, since its formation in 2018, has championed pro-innovation policies in the UK. This partnership aims to foster policy-driven dialogue, enhance regulatory clarity, and support industry growth on both sides of the Atlantic.
Su Carpenter, CryptoUK’s executive director, emphasized the importance of policy-led initiatives, member collaboration, and regulatory engagement. The alliance comes at a crucial time as US lawmakers actively debate a digital asset market structure bill, which seeks to define clear regulatory pathways for cryptocurrencies. Simultaneously, the UK government has announced plans to consult on its own crypto regulatory framework, signaling a broader trend toward legislative clarity in both jurisdictions.
The cooperation also aligns with ongoing efforts by US advocacy groups, including the Solana Policy Institute, the Blockchain Association, and the Crypto Council for Innovation, all of which have received backing from former regulators and congressional members. These organizations are working in a political climate where regulatory support from the Biden administration and legislators continues to grow, fostering a more conducive environment for crypto innovation.
UK Moves Forward on Stablecoins
Meanwhile, the Bank of England has taken steps to establish a regulatory framework for stablecoins, releasing a consultation paper on November 10 for “sterling-denominated systemic stablecoins.” The move indicates the UK’s intent to keep pace with the US, which enacted legislation regulating payment stablecoins earlier this year. Bank of England Deputy Governor Sarah Breeden highlighted that the UK’s actions are partly motivated by the US’s advancing policies, underscoring the importance of international regulatory alignment in this evolving space.
The UK’s proactive stance on stablecoins reflects broader efforts to integrate digital assets into traditional financial systems while ensuring robust oversight. As global competition intensifies, collaboration and harmonization of regulatory approaches will be crucial for fostering innovation and protecting consumers.
