What is the Labor party planning with crypto?

It was a landslide victory for the Labour Party in the United Kingdom yesterday. The Social Democrats won 410 out of 650 seats in the House of Commons. This means that after 14 years they have replaced the conservative Tories and now rule with an absolute majority.

But what does the election victory mean for the UK as a crypto country? If Nigel Green has his way, there are probably two main issues that Labour could put forward. The CEO of the deVere Group told TheBlock that on the one hand, the focus will likely be on the development of a digital central bank currency.

The Bank of England is currently exploring possible uses for the CBDC. The prediction is that a digital pound will be introduced by 2030. On the other hand, tokenization of assets is also likely to be exciting for Labor, Green said. The main focus is on securities. The first priority is general regulation.

The previous government actually wanted to come up with proposals by mid-year on how, for example, stablecoins and staking providers could be regulated. It is not yet clear whether Labor will continue these efforts.