CityAM has reported that the UK government’s ambitions to be a global hub for cryptocurrency aren’t a huge priority for most MPs.
In Brief:
Research from SEC Newgate found that 14 out of 650 MPs mentioned cryptocurrency related terms in parliament on social media from 1 March to 1 May 2022.
These included “blockchain”, “Bitcoin”, “Ethereum”, “crypto” and “cryptocurrency”.
In March 2021, as many as 40 MPs have focused on cryptocurrency.
What does this mean?
It's understandable that priorities will shift with the current economic and political climate, but CryptoAM has said MPs are “falling silent” over the potential of cryptocurrency. However following the Economic Secretary to the Treasury John Glen’s announcement during UK FinTech Week that the UK has ambitions to become a global cryptocurrency hub (with the Royal Mint being commissioned to build an NFT), he and a handful of tech-focused politicians remain enthusiastic.
