Petition for Blockchain Strategy Gains Traction
A public petition urging the United Kingdom to create a pro-innovation strategy for blockchain and stablecoins has gained momentum following support from crypto exchange Coinbase.
Hosted on the UK government’s website, the petition calls for a thorough framework that encompasses stablecoin regulation, blockchain adoption, and the appointment of a blockchain “czar.”
Launched in July, the initiative has recently attracted attention after Coinbase sent in-app messages motivating users to sign. Screenshots posted by users on social media featured messages from the exchange, encouraging its community with phrases like “help UK lead stablecoin innovation now.”
As of this writing, the petition has collected over 5,000 signatures. Once it reaches 10,000 signatures, the UK government is required to respond. At 100,000 signatures, the petition will be eligible for parliamentary debate. It will remain open for signatures until March 3, 2026.
Demands of the Proposal
The proposal sets out three key demands: establishing a framework for stablecoins and tokenization, promoting blockchain implementation within the government, and appointing a leader focused on crypto policy.
The petition points out that stablecoins form the foundation of a tokenized economy, referencing the United States’ decision against a central bank digital currency in favor of stablecoins. Advocates of the petition have warned that the UK risk falling behind other jurisdictions without a clear strategy.
“This is a question of national interest to preserve the competitiveness of the City and sterling’s global standing,” they stated.
Coinbase’s Advocacy for Clearer Regulations
Coinbase has previously advocated for clearer regulations around digital assets in the UK.
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On July 31, the exchange released a satirical video titled “Everything is Fine,” which criticized Britain’s financial system. The video employed lyrics and music that boasted about the country’s robust finances while illustrating scenes of inflation, poverty, and economic hardship.
On August 5, former UK Chancellor and current Coinbase adviser George Osborne authored an op-ed for the Financial Times, emphasizing that the country is lagging in the digital asset market. He specifically highlighted stablecoins as a sector where the UK has fallen behind.
