British MP Lisa Cameron calls for cryptocurrency regulation
According to British MP Lisa Cameron, she refrains from investing in cryptocurrency to maintain objectivity in legislation, but she still recognizes the need for ongoing regulation.
During the Consensus 2023 conference in Texas, Cameron reveals the foundation for her advocacy in cryptocurrency policies.
A global hub for crypto-asset technology
Dr. Lisa Cameron is a U.K. Parliament member who serves as the chair of the Crypto and Digital Assets All Party Parliamentary Group (APPG) and the Foreign Affairs APPG and works alongside prime minister Rishi Sunak, who has shown an interest in cryptocurrency.
With a strong interest in crypto and digital assets, Cameron sees the potential for this new technology to revolutionize digital payments and financial services.
She was quoted in October 2022, emphasizing the importance of consumer protection and the need for regulatory frameworks in the U.K. to ensure that it becomes a “global hub for crypto-asset technology.”
Now, she shares her top priority is consumer protection, and she believes that the crypto and digital asset sector can provide economic benefits, job opportunities, and skills development.
On April 28, 2023, Lisa Cameron was in attendance at the Consensus 2023 conference held in Austin, Texas as a speaker, where she joined reps from Japan, Abu Dhabi and IMF to discuss crypto regulation around the globe.
She revealed that her advocacy for cryptocurrency policies in the U.K. government began after one of her constituents fell victim to a rug pull.
Safe adoption of cryptocurrencies
In an interview with a well-known crypto news platform, Cameron stated that the aftermath of the 2022 crypto market crash allowed the UK to be vigilant about potential bad actors in the industry.
Cameron clarified that she has no personal investment in cryptocurrency to avoid perceived conflicts of interest that may compromise her impartiality in legislative decisions.
Nevertheless, she mentioned that the U.K. has established a framework that permits lawmakers to possess digital assets.
She also predicts that most people will be involved in the crypto industry in the next decade. She added that members of Parliament are not immune to the developments taking place in the real world.
Currently, the U.K.’s Financial Conduct Authority (FCA) partially regulates digital asset activities to ensure that crypto firms abide by anti-money laundering (AML) regulations.
The FCA also provides guidelines to crypto firms on best practices for conducting their operations transparently and compliantly. By doing so, the authority aims to promote a thriving digital assets industry that can contribute to the growth of the economy.