UK and US Collaborate on Crypto Regulatory Framework, Says Former MP Lisa Cameron
Lisa Cameron, ex-UK MP, discusses the potential of a transatlantic crypto sandbox between the UK and the US amidst ongoing regulatory talks.
Lisa Cameron, a former UK Member of Parliament and the founder of the UK-US Crypto Alliance, expressed confidence that a transatlantic regulatory ‘sandbox’ for crypto is developing through discussions with US lawmakers and SEC officials.
While in Copenhagen, Denmark, Cameron articulated her organization’s anticipation for this sandbox, aimed at harmonizing crypto regulations between the US and the UK. She indicated that the UK-US Crypto Alliance is enthusiastic about this collaboration.
Cameron shared that insights from conversations with US Senators and members of the SEC’s Crypto Task Force have led her to expect a significant step toward regulatory clarity for crypto licenses that could facilitate ‘passporting’ between the two nations.
“Many organizations I’ve spoke with desire regulatory clarity that can support passporting between the UK and the US, and it may also benefit the EU.”
A Progressive Approach to Regulation
Crypto regulation is notably advancing in the UK. On the same day, the Bank of England introduced a consultation paper outlining a framework for regulating stablecoins, akin to the US’s GENIUS Act.
This development accompanies reports of a newly established transatlantic task force aimed at promoting collaboration on digital assets between the UK and US. Furthermore, trade groups in the UK are advocating for blockchain to be part of a ‘Tech Bridge’ technology collaboration with the United States.
Time is of the Essence
Cameron voiced concerns regarding the urgency for the UK to develop its crypto regulations, indicating that a critical opportunity might slip away. She highlighted that many companies are opting to leave the UK for more supportive jurisdictions, posing a significant challenge for local startups.
“It concerns me and many others in the industry that firms are departing the UK due to a lack of support, particularly at the startup phase.”
With the US taking a decisive political stance on emerging technologies, Cameron underlined the pressing need for the UK to act promptly to avoid falling behind.
