UK and US Team Up to Shape Crypto Rules

The UK and US are joining forces to shape the future of cryptocurrency rules. CryptoUK, a UK-based group that supports crypto and blockchain, has teamed up with The Digital Chamber, a similar group in the US. This partnership could lead to more collaboration between the two countries on digital asset regulations. Both groups have been working hard in their own countries to promote policies that help the crypto industry. The Digital Chamber started in 2014, and CryptoUK began in 2018. Now, they are joining forces to create a stronger, cross-border platform for advocacy. In the US, lawmakers are working on a bill to establish clear rules for the digital asset market. Meanwhile, in the UK, policymakers are looking to collaborate with the US to explore crypto laws and regulations. This partnership comes at a time when both countries are focusing on the crypto industry. The Digital Chamber has gained support from former regulators and members of Congress. Other US-based crypto advocacy groups include the Solana Policy Institute, the Blockchain Association, the Crypto Council for Innovation, and the American Innovation Project. In other news, the Bank of England has released a consultation paper proposing a framework for stablecoins. This move is seen as the UK trying to catch up to the US, where the government has already passed a law regulating payment stablecoins. The Bank of England's deputy governor, Sarah Breeden, has emphasized the importance of being synchronized on rules with the US. This partnership and the Bank of England's move show that both countries are serious about creating clear and fair rules for the crypto industry. It will be interesting to see how this collaboration unfolds and what impact it will have on the future of digital assets.