A public petition calling for the UK to develop a supportive innovation strategy for blockchain and stablecoins has gained attention, driven by the cryptocurrency exchange Coinbase.
This petition, hosted on the UK government website, calls for the establishment of a comprehensive framework that includes stablecoin regulation, blockchain adoption, and the appointment of a blockchain "czar."
Although the initiative was launched in July, it gained traction after Coinbase sent in-app messages to users this week encouraging them to sign. Screenshots shared by users on social media show that the exchange sent in-app messages urging users with phrases like "Help the UK lead stablecoin innovation now."
As of the time of publication, the petition has collected over 5,000 signatures. When it reaches 10,000 signatures, the UK government must respond to the petition. If it reaches 100,000 signatures, the petition will be considered for parliamentary debate. The petition will remain open for signatures until March 3, 2026.
The proposal outlines three demands: to create a framework for stablecoins and tokenization, to encourage the internal use of blockchain by the government, and to appoint a leader specifically responsible for crypto policy.
The petition states that stablecoins are the foundation of a tokenized economy and mentions that the US has excluded central bank digital currencies in favor of supporting stablecoins. Supporters of the petition argue that without a strategy, the UK will fall behind other jurisdictions.
They wrote, "This is a matter of national interest, aimed at maintaining the competitiveness of the City of London and the global standing of the pound."
Coinbase has previously lobbied for clearer digital asset rules in the UK.
On July 31, the exchange released a satirical video titled "Everything is Fine," directly targeting the UK's financial system. The video uses lyrics and music to boast about the country's strong fiscal position while depicting scenes of inflation, poverty, and financial distress.
On August 5, former UK Chancellor and current Coinbase advisor George Osborne wrote a column in the Financial Times, emphasizing that the country is falling behind in the digital asset market. He specifically pointed out that stablecoins are an area where the country is allowing itself to lag.
Cointelegraph has reached out to Coinbase for comment but has not received a response as of the time of publication.
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Original: “UK Blockchain Innovation Petition Gains Attention with Coinbase Push”
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