• British MP Natalie Elphicke called for the government to do more to harness blockchain technology.
• The UK government has said it wants to become a hub for crypto assets, but has said little about how it will regulate the blockchain industry.

British MP Natalie Elphicke called on the government to do more for blockchain at an event in the Thames Pavilion in the House of Commons on December 14th.

“It is essential that industry and policy makers work together to promote the understanding and application of blockchain technology,” Elphicke said of the All Party Parliamentary Group for Blockchain Technology, which she chairs. He spoke at an event hosted by Parliamentary Group (APPG). The blockchain APPG, like the crypto asset (virtual currency) APPG, is a bipartisan group.

Blockchain is an area where Elphicke sees a lot of potential. She said blockchain could be used to increase transparency in global supply chains and leverage digital identities and data.

Other countries have also introduced legislation to address blockchain technology issues. A blockchain-friendly bill, the Deploying American Blockchains Act, passed unanimously in a U.S. House of Representatives committee this month. Meanwhile, the Belgian government announced last month that it would strengthen Europe’s blockchain infrastructure.

Elphicke said the UK needed to match the pace being taken by national regulators. He also called for the UK to work with other countries on blockchain issues.

The UK has done little on blockchain policy, but has said it wants to become a hub for crypto assets, a view echoed by new economy secretary Bim Afolami. The plan is to gradually regulate the sector, starting with the introduction of stablecoin legislation early next year. The UK recently passed legislation paving the way for blockchain technology to be used to transport trade documents, but it is unclear when further blockchain policy will be enacted.

The Blockchain APPG plans to launch roundtable discussions next year, and will also seek input from the industry on how the UK can harness the skills, opportunities and diversity of blockchain. Elphicke told CoinDesk at the event.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: British MP Natalie Elphicke called on the government to contribute to blockchain. (Camomile Shumba/CoinDesk)
｜Original text: Lawmaker Calls for the UK Government to Do More for Blockchain