UK Lawmaker Lisa Cameron Throws Her Weight Behind Digital Assets
- Lisa Cameron has served as a UK lawmaker since 2015
- The UK has a calmer approach to crypto regulation than the United States.
- The UK’s Financial Conduct Authority is partly responsible for the regulation of digital assets in that nation.
Conversations about digital assets are growing stronger in the UK as the country pushes further to become a digital asset hub. However, the collapse of some digital asset providers has led to increased calls for the regulation of the industry. While some have called for stricter measures, others, like UK parliament member Lisa Cameron, believe pro-crypto policies with adequate customer protection measures will serve a better purpose.
Cameron claimed she began campaigning for crypto-related policies in the U.K. government after one of her constituents suffered a rug pull. The legislator has since moved on to serve as the UK’s Crypto and Digital Assets Group’s chair and works alongside Prime Minister Rishi Sunak, who wants to turn the U.K. into a crypto hub.
Cameron claimed that the events of the 2022 crypto market meltdown gave the U.K. a chance to “sit up and take notice” of potential instigators in the industry. Authorities in the UK have already issued harsh penalties to some cryptocurrency firms that fail to adhere to the rules while advertising services to UK users.
Despite her campaign for digital assets, Cameron revealed that she has not invested in any cryptocurrency due to possible conflicts of interest that would jeopardize her objectivity in legislating. She clarified, however, that UK policies also allow lawmakers in the country to hold digital assets.
According to the UK lawmaker, “there’s going to be very few people over the next 10 years that don’t have some involvement in this sector. I think members of Parliament are not immune to what’s going on in the real world.”
Unlike in the United States, where different agencies are fighting for control over the crypto industry, the UK’s Financial Conduct Authority is partly responsible for the regulation of digital assets in that nation. The regulator’s goal is to ensure that crypto companies abide by the country’s anti-money laundering and counterterrorism financing laws.
Lawrence has covered some exciting stories in his career as a journalist, he finds blockchain-related stories very intriguing. He believes Web3 will change the world and wants everyone to be a part of it.
