According to Cointelegraph, CryptoUK, the leading cryptocurrency trade association in the UK, has announced its decision to join forces with The Digital Chamber, a crypto-policy advocacy group based in the USA. This collaboration is seen as a potential step towards fostering transnational cooperation in the regulation of digital assets between the two countries. In a statement published on Tuesday, CryptoUK announced that its team will operate under the auspices of The Digital Chamber, forming a "unified, transnational advocacy platform." Both organizations are actively promoting favorable policies for the cryptocurrency and blockchain sectors in their respective countries, with The Digital Chamber being founded in 2014 and CryptoUK in 2018. Su Carpenter, the executive director of CryptoUK, emphasized the association's commitment to policy-oriented initiatives, collaboration with members, and engaging in regulation.
Partnership arises as U.S. lawmakers advance in negotiations over the passage of a bill regarding the structure of the digital asset market, aimed at providing regulatory clarity for the industry. Meanwhile, British politicians have announced intentions to collaborate with their American counterparts to study legislation and regulation of cryptocurrencies. In the United States, cryptocurrency advocacy groups like The Digital Chamber have received support from former regulators and members of Congress as the Trump administration steers policy toward the industry. Notable organizations in this space include Solana Policy Institute, Blockchain Association, Crypto Council for Innovation, and American Innovation Project.
In related developments, the Bank of England has made significant strides regarding stablecoins. On November 10, the central bank published a consultation document proposing a framework for "pound-denominated stablecoins." This initiative is perceived as an effort by the UK to align its actions with the U.S., where the government passed legislation regulating payment stablecoins in July. Sarah Breeden, Deputy Governor of the Bank of England, noted before the publication of the document that the central bank's actions were a response to the advancement of stablecoin policy in the U.S., emphasizing the importance of synchronized regulation.
