A public petition in the United Kingdom advocating for a proactive approach to blockchain technology and stablecoins has seen a significant surge in support recently, propelled by crypto exchange Coinbase. The petition, available on the UK’s government website, calls for the establishment of a comprehensive framework that encompasses regulation for stablecoins, the promotion of blockchain adoption, and the appointment of a dedicated blockchain “czar.”
While the petition was initially launched in July, it has gained traction this week following a push from Coinbase. The exchange sent in-app notifications to its users, urging them to participate in the initiative. Users took to social media to share screenshots of these messages, which encouraged them with phrases like “help UK lead stablecoin innovation now.”
As of now, the petition has accumulated over 5,000 signatures. If it achieves 10,000 signatures, the UK government is required to respond formally. Should the number of signatures reach 100,000, the petition will be eligible for discussion in Parliament. Open for signatures until March 3, 2026, it aims to mobilize support for a strategic shift in how the UK approaches digital assets.
The petition outlines three primary objectives: establishing a regulatory framework for stablecoins and tokenization, promoting the utilization of blockchain technology within governmental operations, and appointing a leader responsible for crafting and overseeing crypto policy. The petition emphasizes that stablecoins form the foundation of a tokenized economy, referencing the United States’ preference for stablecoins over a central bank digital currency.
Supporters argue that without a proactive strategy, the UK risks falling behind competitive jurisdictions. They emphasize the importance of this initiative as a matter of national interest, asserting that it is crucial for maintaining not only the competitiveness of the City of London but also the global standing of the British pound.
Coinbase’s involvement reflects its ongoing commitment to advocating for clearer digital asset regulations in the UK. Earlier this year, the company produced a satirical video titled “Everything is Fine,” which critiqued the state of Britain’s financial system by juxtaposing triumphant lyrics about the economy with stark visuals of inflation and financial hardship. In an op-ed published in the Financial Times, former UK Chancellor and current Coinbase advisor George Osborne remarked on the need for the country to catch up in the fast-evolving digital asset landscape, particularly in the area of stablecoins.
The situation remains dynamic, and as the petition continues to gain signatures, its potential impact on UK policy towards blockchain and stablecoins will be closely monitored by stakeholders across the industry.
