he general election result in favour of the Labour Party comes with nothing but positivity for the world of crypto.
With Labour emerging as the winner and now taking the position of power, nothing but good action is expected toward crypto, CryptoUK said in an interview with Cointelegraph.
“We have established strong relationships with Labour MPs and policymakers, and we intend to strengthen these ties going forward to advance the UK’s digital assets industry.”
The issue of crypto in the United Kingdom was less popular compared to what is happening in the U.S. ahead of its Presidential election, with Donald Trump emerging as a strong supporter of cryptocurrency while Joe Biden believes otherwise.
An Insight of Labour Plan For Crypto
Ahead of the UK general election, crypto never emerged as a topic of discussion but Labour did come up with a plan for financial services which also involved the crypto industry.
About the financial plan of Labour, the Party did talk about the importance of tokenization as it offers easy opportunities for new assets to be accessed.
Oliver Linch, the CEO of Bittrex Global crypto exchange believes that the window for crypto in the UK will be open for so long after the Labour Party victory, as Labour will have the chance to witness the new opportunities to be presented by crypto that will boost the UK economy. While also offering protection to many consumers including the general public.
