Coinbase Throws Support Behind UK Petition for Stablecoin Regulation and Blockchain Adoption
A public petition urging the United Kingdom to adopt a pro-innovation strategy for blockchain and stablecoins has gained significant traction after leading crypto exchange Coinbase encouraged its users to join the cause.
The petition, which has been active on the UK government’s website since July, calls for a comprehensive framework that encompasses stablecoin regulation, blockchain adoption, and the appointment of a blockchain “czar.”
Initially flying under the radar, interest in the petition surged this week following Coinbase’s efforts to mobilize its user base to sign on.
Displayed in-app messages from the exchange urged customers to “help UK lead stablecoin innovation now,” as shared on social media screenshots.
The petition has now exceeded 5,000 signatures, with the government required to respond formally once it reaches the 10,000 mark. If the signatures hit 100,000, the proposal will be up for parliamentary debate.
The petition deadline is set for March 3, 2026.
Push for Regulatory Clarity and Innovation
The petition outlines three key demands: the establishment of a framework for stablecoins and tokenization, the promotion of blockchain adoption across government functions, and the appointment of a senior official dedicated to overseeing crypto policy.
Advocates argue that stablecoins are crucial for a tokenized economy and stress that regulatory clarity is vital for the UK to maintain its competitive edge.
With the United States favoring stablecoins over a central bank digital currency (CBDC), the petition warns that the UK risks falling behind without a clear strategy in place.
“This is a question of national interest to preserve the competitiveness of the City and sterling’s global standing,” the petition emphasizes.
Supporters caution that without prompt action, the UK could lose ground to other jurisdictions with more aggressive digital asset strategies.
Coinbase’s Impact on UK Crypto Policy
Coinbase has been a vocal advocate for clearer digital asset regulation in the UK and has intensified its efforts to shape public discourse and policymaking in recent months.
In a satirical video titled “Everything is Fine,” released on July 31, Coinbase juxtaposed upbeat lyrics about Britain’s financial system with visuals highlighting economic challenges, a stark critique of the status quo.
Former UK Chancellor and current Coinbase advisor George Osborne further underscored the need for action in an opinion piece published in the Financial Times on August 5, where he highlighted the UK’s lag in the global digital asset race, particularly in the stablecoin sector.
Coinbase’s support for the petition aligns with its broader strategy of advocating for regulatory clarity and creating a more conducive environment for digital assets in the UK.
With the petition halfway to triggering the government’s response, there is mounting pressure on policymakers to provide guidance on stablecoins and blockchain innovation.