Regulation
Coinbase will now promote crypto regulation in the UK
It’s official: the lobby created by Coinbase to promote favorable crypto regulation is also expanding its operations in the UK.
Coinbase itself stated this with A declaration published last Friday.
Coinbase: The expansion of crypto regulation in the UK
Britain is certainly one of the largest national crypto markets in Europe.
Furthermore, while European Union countries have already adopted specific regulations for cryptocurrency markets, the MicaBritain is still a long way from achieving this.
There have been attempts to regulate cryptocurrencies in the UK, but they have not yielded particularly good results.
For this reason, there is still a lot of work to be done in this area and therefore also a lot of room for maneuver.
Coinbase sometime ago launched a campaign to promote favorable crypto regulation in the United States, and this campaign, called Stand with Crypto, later evolved into an association that acts in all respects as a political lobby in the United States.
Now, the Stand with Crypto initiative is also expanding to the UK, with the aim of achieving favorable crypto regulation in all major Western jurisdictions.
We must not forget that the British financial market is certainly one of the most important in Europe and that the London Stock Exchange is just behind Euronext on the Old Continent.
Coinbase’s initiative on crypto regulation in the United Kingdom
In Coinbase’s statement, it says that Stand with Crypto unites crypto supporters around the world, to promote sound crypto innovation and policy.
In the United States, the movement has reached more than 700,000 members, while the United Kingdom is the second largest market for Coinbase after the United States, with more than 6 million cryptocurrency holders.
Stand with Crypto aims to mobilize the crypto community to engage directly in the legislative process and, in the UK, it will spotlight Web3 entrepreneurs who are building their businesses on blockchain.
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Coinbase says that politicians want to better understand the opportunities offered by this new technology, and that it is up to the crypto industry to better explain its usefulness and social benefits.
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The event in London
Early last week, Stand with Crypto held its launch event in London, at the UK Parliament, and hosted by former Chancellor of the Exchequer and current member of the Coinbase Global Advisory Board, George Osborne.
The event saw, among others, the presence of a ministerial representation of the front-line team of the Ministry of Commerce and Labor and brought together around a hundred web3 entrepreneurs, investors, academics and media .
Coinbase states that the success of this launch event marks a pivotal moment in the expansion of Stand with Crypto in the UK and its impact on the UK crypto landscape is set to be profound.
In Great Britain, there is already a thriving web3 ecosystem in Manchester, so much so that in the coming months the movement will also extend to other British cities.
Cryptocurrency
During the event, two-minute presentations were held on the activities of various UK crypto companies.
As for the world of telecommunications, WeaverLabs stepped in, which is building a decentralized physical network for the telecommunications industry. The initiative originated within the 5G Innovation Labs at King’s College London and has previously worked with Transport for Greater Manchester and Liverpool.
For the advertising industry, Aklimi, a decentralized advertising exchange, has stepped in with a mission to secure the ad-supported future of the Internet.
Alkimi has publishers like AWS, Coca Cola, Cathay Pacific and Meta, as well as other publishers like News UK, Immediate Media and Conde Nast.
Their platform was created by advertising veterans, including CEO Ben Putley, and consists of a vertical application built on Ethereum specifically for the advertising ecosystem, in order to effectively adapt brands and consumer targets.
For the e-commerce sector, KnownOrigin, a NFT digital art market with a trading volume of more than $50 million on Ethereum, intervened.
The company was co-founded in Manchester by Andy Gray in 2018 and was one of the pioneering NFT platforms that enabled creators and collectors to monetize their creativity. In 2022, it was acquired by eBay.
For the technology sector, Arcube stepped in, whose software helps airlines better use data from their loyalty programs to improve loyalty and engagement.
Co-founded by final year University of Manchester students Harvey Lowe and Prithveesh Reddy, it piloted its tokenized loyalty program with 1,300 Etihad Airways customers for two years, growing revenue from the program. 10% loyalty program.