Why Crypto Shouldn’t Be Ignored in UK Politics
As the UK gears up for the next election cycle, former Tory MP Dr. Lisa Cameron is urging political parties to pay attention to the growing importance of cryptocurrency. In a recent interview with Decrypt at Zebu Live, Cameron highlighted the need for all parties to address crypto in their election campaigns, warning that ignoring this issue would be a disservice to voters.
Over the past few years, the crypto community in Britain has seen significant growth, with the number of crypto holders more than doubling from 2 million to over 6 million. Cameron believes that this trend is only going to continue, making it imperative for politicians to engage with the crypto space.
One of the reasons why governments have been slow to embrace crypto, according to Cameron, is a lack of education and the influence of older generations in power. The generational gap was evident when the Youth Parliament asked MPs and Lords if they understood the term “Web3″—while the young participants were well-versed in the concept, many of the older politicians were not.
To bridge this gap, Cameron advocates for using simple language to explain the benefits of cryptocurrencies to politicians. Rather than getting bogged down in technical jargon, industry leaders should focus on the practical applications of crypto and how it can create opportunities for communities.
Despite the UK’s lag in crypto investment and regulation, Cameron sees Brexit as an opportunity for the country to surpass the European Union in this area. While the EU has introduced legislation like Markets in Crypto Assets (MiCA), Cameron believes that the UK can improve upon this framework post-Brexit to become a leader in the crypto space.
Although there have been some positive developments, such as the classification of crypto assets as personal property, the UK remains bi-partisan on the issue of crypto. Cameron hopes that by the next election, all political parties will have concrete proposals for crypto policy.
It is clear that crypto should not be ignored in UK politics, as it has the potential to shape the future of finance and technology. By embracing this emerging industry and creating a supportive regulatory environment, the UK can position itself as a global leader in the crypto space.
Edited by Stacy Elliott.