- The U.K. government has responded to a petition calling for it to enhance its efforts in Web3 and crypto.
- Regulatory frameworks for crypto tokenized assets are expected to be implemented this year.
- The U.K. government is working on the creation of a GBP-backed stablecoin.
A U.K. crypto advocacy group launched a petition requesting the U.K. government to “drive” a pro-innovation regulatory regime for stablecoins and tokenized assets, research uses of blockchain in government, and “appoint a blockchain & crypto czar.”
So far, it’s reached 19,275 signatures at the time of publishing.
Before meeting the 100,000 signature threshold required for the petition to reach parliament, the government responded.
The Response
On September 29, 2025, the UK government responded, stating that it had already published the Wholesale Digital Markets Strategy in July, and intends to “bring forward legislation for a financial services regulatory regime” for crypto this year.
It adds that establishing comprehensive frameworks for crypto is underway, which includes provisions to support the creation of a GBP-backed stablecoin, as well as “facilitate effective market access” for stablecoins issued overseas.
The aforementioned July bill aims to give the sector a means to “test, scale,” and deliver tokenized financial asset solutions and digitalize “post-trade processes.”
The framework also intends to give new solutions a clear runway to “move forward” and quickly implement permanent changes to meet them.
It will also serve to ensure a “cross-sectoral” approach to blockchain adoption in wholesale financial markets.
Finally, the government notes that it has plans to implement a “Digital Markets Champion” who will lead the domestic sector in line with these aims.
U.K. Crypto Policy
The news arrives as the U.K. finds new energy for innovation as part of a collaboration between the U.K. and the U.S.
The establishment of the Transatlantic Taskforce for Markets of the Future will see the duo collaborate more on digital assets and perhaps align more closely on crypto policy.
The government’s mention of creating a GBP-backed stablecoin, plus rails to handle stablecoins from other countries, arrives just as the U.S. cements its crypto policies and prepares to unleash its nation’s digital asset industry.
On Oct. 8, the U.K.’s financial watchdog will lift a ban on crypto exchange-traded notes (ETNs), which are equivalent to exchange-traded funds (ETFs).
Several major firms, such as BlackRock, 21Shares, and others, are waiting patiently to launch Bitcoin and crypto ETNs on the London Stock Exchange.
