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As UK Elections Approach, Crypto Industry Leaders Turn Attention to Keir Starmer, Labour Party

With U.K. opinion polls indicating a strong performance by the Labour Party in the July 4 elections, crypto executives and lobbyists are reportedly focusing their attention on party leader Keir Starmer. The crypto industry has also prioritized two other pro-tech Labour Party leaders in its ongoing effort to influence the U.K. government’s policy on digital assets.

Keir Starmer’s Position on Crypto

As the global crypto industry prepares for what is being described as a pivotal election cycle in the U.K. and U.S., top executives are reportedly focusing on Keir Starmer, leader of the Labour Party. While Starmer’s stance on cryptocurrency remains unclear, the strong performance of his party in U.K. opinion polls has made him a person of interest for the industry, a Bloomberg report has suggested.

The report explained that before U.K. Prime Minister Rishi Sunak’s unexpected call for a snap election, industry leaders were engaging with lawmakers to sway their views on cryptocurrency. Initially, these executives were primarily interested in influencing members of the Conservative Party, including Sunak.

However, with the election quickly approaching, however, crypto executives have shifted their focus to the Labour Party, which last occupied No.10 Downing Street in 2010. Laura Navaratnam, the U.K. policy lead at the Crypto Council for Innovation, explained the industry’s keen interest in understanding the party’s policies.

“Everyone is trying to guess[Starmer’s stance on crypto]. Part of the answer here is quite possibly that Labour don’t know what they think yet,” Navaratnam said.

Crypto Executives Target Labour Party’s Rachel Reeves

In addition to targeting Starmer, crypto executives and lobby groups have focused on Labour’s Rachel Reeves and Tulip Siddiq. Reeves, the party’s shadow chancellor, and Siddiq are poised to lead a Starmer-headed government’s efforts to restore London’s status as a financial hub.

Reeves, who participated in a breakfast meeting hosted by Coinbase, has expressed her readiness to collaborate with the technology sector. Siddiq, on the other hand, stated that Labour would transform the U.K. into a global centre for tokenized assets if the party were victorious in the next election.

Bloomberg also reported that crypto executives and lobbyists have initiated grassroots outreach campaigns in Labour strongholds such as Manchester.

Source: Bitcoin

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