Lisa Cameron, a former British parliamentarian and founder of the Anglo-American Crypto Alliance, told Cointelegraph that she believes a joint “sandbox” is in the works to bring the US and UK crypto markets together.
In an interview with Cointelegraph at the United Nations City Office in Copenhagen, Denmark, Prime Minister David Cameron said that according to the organization’s understanding, “there will be a sandbox” with cooperation between the United States and the United Kingdom. She added that the Anglo-American Cryptographic Alliance is “very excited about this possibility.”
Prime Minister Cameron said the UK-US Crypto Alliance reached this conclusion after discussions with US senators and members of the US Securities and Exchange Commission (SEC) Crypto Task Force. He said he expected the purpose of the sandbox to be to “resolve some of this problem from a passporting perspective” for crypto licenses between the UK and the US.
“Many organizations I have spoken to are keen to see regulatory clarity to enable passporting between the UK and the US, and I think that perhaps that could be of benefit to the EU as well.”
continuous collaboration
Cryptocurrency regulation appears to be gaining momentum in the UK. Earlier on Monday, the Bank of England published a consultation paper proposing a regulatory framework for stablecoins. The new framework, similar to the US GENIUS law, will regulate sterling-denominated “systemic stablecoins” that are widely used for payments.
The statement follows recent reports that the US and UK Treasury authorities have created a transatlantic task force to consider “short- to medium-term cooperation on digital assets.” In mid-September, it was reported that the UK and US were also preparing to deepen cooperation on digital assets.
Reports at the time suggested that the UK was looking to emulate the Trump administration’s crypto-friendly stance. Also in September, a British industry group called on the British government to include blockchain technology in its “Tech Bridge” technology cooperation with the United States.
Related: UK crackdown: Hundreds of crypto exchanges received FCA warnings in October.
Britain is at risk of missing its train
Prime Minister David Cameron said he feared “the opportunity has passed” and stressed the need for the UK to act quickly and wisely. She said she believes crypto regulation is not as much of a political priority as it should be.
“The fact that companies are choosing to leave the UK is worrying to me and to many others in our industry.” […] He also said he would be looking to other jurisdictions as he feels there is no support even at the start-up stage within the industry. ”
Prime Minister Cameron added that the United States’ aggressive policy direction increases the need for the UK to act quickly. “Now that the US is giving a very clear and direct political direction on emerging frontier technologies, I think the UK has no time to lose and has to act very quickly.”
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