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UK Blockchain Petition Surges After Coinbase Alert – Will It Hit Parliament Soon?

A petition urging the United Kingdom to undertake a pro-innovation technique for blockchain and stablecoins is gaining traction after crypto trade Coinbase mobilized its consumer base to help the trouble.

The petition, created in July by campaigner Harry Pearce Gould and hosted on the UK authorities’s official web site, requires a nationwide technique to manage stablecoins, advance tokenization, and encourage authorities use of blockchain know-how.

It additionally proposes the appointment of a devoted “blockchain and crypto czar” to supervise coverage within the sector.

UK Stablecoin Petition Gains Momentum With Coinbase Backing

Supporters of the petition argue that the UK dangers falling behind different jurisdictions with out decisive motion.

The petition reveals the position of stablecoins in powering a tokenized financial system, pointing to the United States’ latest determination to rule out a central financial institution digital foreign money in favor of a stablecoin-driven framework.

Source: UK Parliament

Backers say the UK should act to protect the City of London’s international competitiveness and defend sterling’s standing as a world foreign money.

“London was as soon as the middle of world commerce and finance. The future is digital, the place equities, bonds, and real-world property exist as tokens—tradeable 24/7, immediately, globally,” the petition reads.

It argues {that a} regulatory regime supportive of stablecoins, together with interest-bearing fashions, is required to anchor this transition.

Momentum for the initiative accelerated this week after Coinbase despatched in-app messages urging its UK prospects to signal.

Screenshots shared on X showed prompts corresponding to “Help the UK lead stablecoin innovation now,” which shortly drew recent consideration to the petition. At the time of writing, it has secured greater than 5,600 signatures.

Under parliamentary guidelines, petitions that attain 10,000 signatures should obtain a proper response from the federal government. If the overall climbs to 100,000 earlier than the deadline of March 3, 2026, the difficulty will likely be thought of for debate in Parliament. All petitions stay open for six months.

The push comes as policymakers debate learn how to place Britain within the international digital asset race.

Petitioners argue that stablecoins must be embraced because the spine of a tokenized financial system, whereas authorities adoption of blockchain may unlock new efficiencies throughout public providers.

The name for a devoted crypto coverage chief displays a perception that fragmented oversight is holding again progress.

Coinbase has been vocal concerning the want for regulatory readability within the UK. On July 31, the trade launched a satirical video titled “Everything is Fine,” which mocked Britain’s monetary system by contrasting upbeat lyrics with scenes of inflation and poverty.

Additionally, UK regulators are advancing their very own plans for digital property. In May, the Financial Conduct Authority (FCA) unveiled proposals to regulate stablecoins and crypto custody, calling them a milestone towards balanced oversight.

The proposed guidelines would require issuers to reveal how tokens are backed and managed, whereas custody suppliers should show buyer property are safe and accessible.

The Bank of England would oversee stablecoins deemed systemic. FCA government David Geale stated the regulator helps innovation however harassed that stability and belief stay important.

UK Faces Crypto Crossroads as Osborne Warns of Irrelevance, Binance Expands Access

Former UK Chancellor George Osborne warned that Britain risks becoming irrelevant in the global race for crypto management until it takes daring motion.

According to a report, Osborne accused the Labour authorities and the Bank of England of dragging their ft whereas rivals such because the U.S., the EU, Singapore, Hong Kong, and Abu Dhabi push forward with authorized frameworks for digital property and stablecoins.

Osborne, who served as finance minister from 2010 to 2016 and now advises Coinbase, likened the second to the Big Bang reforms of the Eighties that remodeled London right into a monetary hub.

He straight challenged Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey, dismissing present authorities pledges to “drive ahead” on stablecoins as obscure and inadequate.

His intervention comes because the UK crypto sector faces each openings and new compliance calls for. Binance last month restored its full range of “Earn” products for skilled buyers in Britain, following regulatory clarification that staking falls exterior collective funding schemes.

The trade stated the transfer displays rising demand from refined shoppers and confirmed confidence within the UK’s evolving rulebook.

Binance UK director Nish Patel, a former Financial Conduct Authority crypto specialist, said he expects a comprehensive domestic framework, comparable in scope to the EU’s MiCA, to take form inside the subsequent 12 months.

Meanwhile, the federal government has set out more durable tax reporting guidelines. From January 1, 2026, crypto corporations will likely be required to collect detailed personal information on each commerce and switch below the OECD’s Cryptoasset Reporting Framework. Penalties of as much as £300 per consumer will apply for non-compliance.

With adoption rising, 12% of UK adults now maintain crypto, in line with the FCA; the stress between requires innovation and calls for for oversight is sharpening.

The submit UK Blockchain Petition Surges After Coinbase Alert – Will It Hit Parliament Soon? appeared first on Cryptonews.

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