According to British Member of Parliament Lisa Cameron, she refrains from investing in cryptocurrency to maintain objectivity in legislation, but still recognizes the need for continued regulation.
During the 2023 Consensus Conference in Texas, Cameron revealed the basis for her cryptocurrency policy advocacy.
A global hub for crypto-asset technology
Dr. Lisa Cameron is a Member of the UK Parliament and serves as Chair of the Crypto and Digital Assets All Party Parliamentary Group (APPG) and Foreign Affairs APPG and works alongside Prime Minister Rishi Sunak, who has shown interest in cryptocurrency.
With a strong interest in cryptocurrencies and digital assets, Cameron sees this new technology as revolutionizing digital payments and financial services.
Quoted in October 2022, emphasizing the importance of consumer protection and the need for regulatory frameworks in the UK to ensure it becomes a “global hub for crypto-asset technology.”
Now, sharing consumer protection as her top priority, she believes the cryptocurrency and digital asset sector can provide economic benefits, job opportunities, and skills development.
On April 28, 2023, Lisa Cameron was present at the Consensus 2023 conference held in Austin, Texas as a speaker, joining representatives from Japan, Abu Dhabi and the International Monetary Fund to discuss Worldwide crypto regulation.
She revealed that her advocacy of cryptocurrency policies in the UK government began after a component of it fell victim to a rug pull.
Safe adoption of cryptocurrency
In an interview with a well-known crypto news platform, Cameron stated that the fallout from the cryptocurrency market crash in 2022 allowed the UK to be vigilant about potential bad actors in the industry.
Cameron has made it clear that she has no personal investment in cryptocurrency to avoid perceived conflicts of interest that could compromise her impartiality in legislative decisions.
However, she mentioned that the UK has created a framework that allows lawmakers to own digital assets.
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It also predicts that most people will be involved in the cryptocurrency industry in the next decade. She added that MPs are not immune from developments in the real world.
Currently, the UK’s Financial Conduct Authority (FCA) partially regulates digital asset activities to ensure that crypto companies comply with Anti-Money Laundering (AML) regulations.
The FCA also provides guidance to crypto companies on best practices for conducting their operations with transparency and compliance. In doing so, the authority aims to boost the thriving digital asset industry that can contribute to the growth of the economy.
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