During the State Opening of Parliament in May 2022, the UK government led by Conservatives introduced two bills concerning cryptocurrencies.
The King’s Speech at the State Opening of Parliament said the new Labour government of the United Kingdom would focus on economic stability and growth but did not explicitly mention digital asset-related policies.
Addressing the members of the UK Parliament on July 17, King Charles III read a speech written by the incoming Labour government as they prepared to introduce laws and policy objectives. The UK government’s priorities included “securing economic growth,” “wealth creation,” and improving the nation’s infrastructure and housing.
The roughly 15-minute speech did not specifically address the regulation of crypto and blockchain but said lawmakers would “encourag[e] investment in industry, skills, and new technologies” and introduce legislation to regulate artificial intelligence. Other policy priorities included plans to address border security and the climate crisis and establish an “independent football regulator.”
