The UK-based cryptocurrency industry association CryptoUK recently announced that it will join the US crypto policy advocacy organization, The Digital Chamber. This move may signify the beginning of significant cross-national cooperation between the two countries in the regulation of digital assets.
In an announcement released on Tuesday, CryptoUK stated that its team will be incorporated into the framework of The Digital Chamber, becoming part of a "unified cross-border advocacy platform." Both organizations are dedicated to promoting favorable policies for the cryptocurrency and blockchain industry in their respective countries, with The Digital Chamber founded in 2014 and CryptoUK established in 2018.
Su Carpenter, the Executive Director of CryptoUK, noted, "CryptoUK has always been committed to ensuring that our work is driven by policy issues, member collaboration, and interactions with regulatory bodies."
The collaboration between these two advocacy organizations comes at a time when US lawmakers are advancing negotiations on a digital asset market structure bill aimed at establishing a clear regulatory framework for the industry. Meanwhile, in the UK, policymakers have announced plans to collaborate with their US counterparts to jointly explore cryptocurrency laws and regulatory frameworks.
With the Trump administration guiding policies targeting the crypto industry, US cryptocurrency advocacy organizations, such as The Digital Chamber, have gained support from former regulators and congressional members. These organizations also include the Solana Policy Research Institute, the Blockchain Association, the Crypto Innovation Council, and the US Innovation Project.
On November 10, the Bank of England released a consultation document proposing a regulatory framework for "pound-denominated systemic stablecoins." This move by the Bank of England indicates that the UK seems to be catching up with the US, which passed a law regulating payment stablecoins in July.
Sarah Breeden, Deputy Governor of the Bank of England, emphasized before the document's release that the central bank's action is a response to the US's advancement of stablecoin policies, and she believes it is crucial to maintain "synchronization" in regulatory rules.
Related: Regulators Seek Input from the Crypto Industry on UK Investment Reforms
Original: “UK Cryptocurrency Lobby Group Joins The Digital Chamber to Promote Cross-Border Policy Cooperation”
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