General election could delay crypto regulation by months — CryptoUK

Whether the U.K. Conservative Party maintains control of government or Labour is voted in, the House of Commons will be in recess until July 4 and during party conference season.

British Prime Minister Rishi Sunak was required to announce a general election in the United Kingdom before January 2025, but his decision to hold one in July could push back the implementation of crypto policies in the country.

Speaking to Cointelegraph at the Consensus conference in Austin on May 30, CryptoUK Board Advisor Ian Taylor said the July 4 election would likely delay crypto regulatory policy in the country through the Financial Services and Markets Act by a matter of months. The U.K. government initially announced plans to present a regulatory framework for cryptocurrencies and payment stablecoins in July before any election.

“It’s not great,” said Taylor, referring to the delay of U.K. crypto policy. “Asia and Europe are way ahead of the game.”

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