Lisa Cameron, a member of the U.K. Parliament and chair of the #crypto and Digital Assets All Party Parliamentary Group (APPG), recently spoke at the Consensus 2023 conference in Texas about the need for ongoing regulation of the cryptocurrency industry.
Cameron believes that the U.K. has the potential to become a "global hub for crypto-asset technology," but this can only be achieved through the establishment of strong regulatory frameworks that prioritize consumer protection.
Cameron's advocacy for cryptocurrency policies in the U.K. government began after one of her constituents fell victim to a rug pull. She has no personal investment in cryptocurrency to avoid conflicts of interest, but believes that most people will be involved in the crypto industry in the next decade.
The U.K.'s Financial Conduct Authority (FCA) currently regulates digital asset activities to ensure compliance with anti-money laundering regulations and promote transparent and compliant operations.
The #FCA provides guidelines to crypto firms on best practices for conducting their operations, with the aim of promoting a thriving digital assets industry that can contribute to the growth of the economy.
Cameron's appearance at the #Consensus 2023 conference highlights the importance of continued dialogue and collaboration between countries around the world on crypto regulation. Representatives from Japan, Abu Dhabi, and the IMF also participated in the conference to discuss the evolving regulatory landscape.
Overall, Cameron's views reflect a growing recognition among policymakers that cryptocurrencies and digital assets have the potential to transform the financial industry. However, this transformation must occur within a regulatory framework that protects consumers and ensures the stability of the global financial system.
