{"id":18364,"date":"2023-05-02T14:33:57","date_gmt":"2023-05-02T14:33:57","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/british-mp-lisa-cameron-is-not-invested-personally-in-crypto-but-advocates-for-regulation\/"},"modified":"2023-05-02T14:33:59","modified_gmt":"2023-05-02T14:33:59","slug":"british-mp-lisa-cameron-is-not-invested-personally-in-crypto-but-advocates-for-regulation","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/british-mp-lisa-cameron-is-not-invested-personally-in-crypto-but-advocates-for-regulation\/","title":{"rendered":"British MP Lisa Cameron is ‘not invested personally’ in crypto but advocates for regulation"},"content":{"rendered":"

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Lisa Cameron, a Member of Parliament in the United Kingdom since 2015, may not have used the Bitcoin Lightning Network in her time as a lawmaker, but spends a lot of her time in office focused on digital assets.<\/p>\n

Speaking to Cointelegraph at the Consensus 2023 conference in Austin, Texas on April 28, Cameron said she first started advocating for crypto-related policies in the U.K. government following one of her constituents being the victim of a rug pull. Since then, the lawmaker has gone on to chair the country’s Crypto and Digital Assets Group and work with Prime Minister Rishi Sunak, who aims to make the U.K. a \u201cglobal hub for crypto-asset technology.\u201d<\/p>\n

\u201cI\u2019m an advocate for getting regulation in place that makes the most of the potential of the sector whilst protecting consumers,\u201d said Cameron. <\/p>\n

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Reps from Japan, UK, IMF, and Abu Dhabi discussing global crypto regulation here at #Consensus2023<\/a> pic.twitter.com\/vTnbC1eunc<\/a><\/p>\n

\u2014 Cointelegraph (@Cointelegraph) April 28, 2023<\/a><\/p><\/blockquote>\n

According to Cameron, the fallout from the 2022 crypto market crash provided the U.K. the opportunity to \u201csit up and take notice\u201d of potential bad actors in the space. Regulators have already announced severe consequences for certain crypto firms not following requirements in advertising services to U.K. customers.<\/p>\n

Though many lawmakers and regulators in the United States government seem to view crypto as a polarizing issue \u2014 e.g. Senator Elizabeth Warren\u2019s \u2018anti-crypto army\u2019 \u2014 Cameron suggested that digital assets seemed to be less of a partisan issue across the pond. The MP echoed Sunak\u2019s position of making the U.K. a global hub for crypto, saying she had seen lawmakers from not just one party working to achieve that goal.<\/p>\n

\u201cI think in the main it\u2019s coming collectively from a cross-party basis of wanting to overcome obstacles, make sure that we have the guidance that we need and the regulations to maintain our position.\u201d<\/p><\/blockquote>\n

Related: <\/em><\/strong>UK financial watchdog to crypto industry: \u2018Let\u2019s work together\u2019<\/em><\/strong><\/p>\n

Cameron added that she was \u201cnot invested personally\u201d in any cryptocurrency due to perceived conflicts of interest that could potentially affect her objectivity in legislation. However, she added that there was a system in place allowing U.K. lawmakers to hold digital assets.<\/p>\n

\u201cThere\u2019s going to be very few people over the next ten years that don\u2019t have some involvement in this sector,\u201d said Cameron. \u201cI think Members of Parliament are not immune to what\u2019s going on in the real world.\u201d<\/p>\n

Digital asset regulation in the U.K. is partly overseen by the country\u2019s Financial Conduct Authority, which aims to ensure crypto firms comply with Anti-Money Laundering and Combating the Financing of Terrorism requirements. The U.K. government has also been moving forward on the Financial Services and Markets Bill, legislation that proposes regulating stablecoins in addition to supporting \u201cthe safe adoption of cryptocurrencies\u201d in the country.<\/p>\n

Magazine: <\/em><\/strong>Crypto regulation: Does SEC Chair Gary Gensler have the final say?<\/em><\/strong><\/p>\n