A U.K. general election, which could see the crypto-friendly Conservative Party lose its governing mandate, will take place on July 4, earlier than expected.
The Conservative Party has said it wants the U.K. to be a crypto hub and has been instrumental in passing legislation recognizing digital assets as regulated financial services in the country. In March, the government hosted members of the crypto community at the prime minister’s official residence at No.10, Downing Street to restate its plan to build legislation for the sector. Stablecoin and staking legislation was expected to come out in the coming weeks, though so far none has been proposed.
Prime Minister Rishi Sunak,