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A petition urging the United Kingdom to adopt a pro-innovation strategy for blockchain and stablecoins is gaining traction after crypto exchange Coinbase mobilized its user base to support the effort.
The petition, created in July by campaigner Harry Pearce Gould and hosted on the UK government’s official website, calls for a national strategy to regulate stablecoins, advance tokenization, and encourage government use of blockchain technology.
It also proposes the appointment of a dedicated “blockchain and crypto czar” to oversee policy in the sector.
UK Stablecoin Petition Gains Momentum With Coinbase Backing
Supporters of the petition argue that the UK risks falling behind other jurisdictions without decisive action.
The petition shows the role of stablecoins in powering a tokenized economy, pointing to the United States’ recent decision to rule out a central bank digital currency in favor of a stablecoin-driven framework.
Backers say the UK must act to preserve the City of London’s global competitiveness and protect sterling’s standing as an international currency.
“London was once the center of global trade and finance. The future is digital, where equities, bonds, and real-world assets exist as tokens — tradeable 24/7, instantly, globally,” the petition reads.
It argues that a regulatory regime supportive of stablecoins, including interest-bearing models, is needed to anchor this transition.
Momentum for the initiative accelerated this week after Coinbase sent in-app messages urging its UK customers to sign.
Screenshots shared on X showed prompts such as “Help the UK lead stablecoin innovation now,” which quickly drew fresh attention to the petition. At the time of writing, it has secured more than 5,600 signatures.
Under parliamentary rules, petitions that reach 10,000 signatures must receive a formal response from the government. If the total climbs to 100,000 before the deadline of March 3, 2026, the issue will be considered for debate in Parliament. All petitions remain open for six months.
The push comes as policymakers debate how to position Britain in the global digital asset race.
Petitioners argue that stablecoins should be embraced as the backbone of a tokenized economy, while government adoption of blockchain could unlock new efficiencies across public services.
The call for a dedicated crypto policy chief reflects a belief that fragmented oversight is holding back progress.
Coinbase has been vocal about the need for regulatory clarity in the UK. On July 31, the exchange released a satirical video titled “Everything is Fine,” which mocked Britain’s financial system by contrasting upbeat lyrics with scenes of inflation and poverty.
Additionally, UK regulators are advancing their own plans for digital assets. In May, the Financial Conduct Authority (FCA) unveiled proposals to regulate stablecoins and crypto custody, calling them a milestone toward balanced oversight.
The proposed rules would require issuers to disclose how tokens are backed and managed, while custody providers must prove customer assets are secure and accessible.
The Bank of England would oversee stablecoins deemed systemic. FCA executive David Geale said the regulator supports innovation but stressed that stability and trust remain essential.
UK Faces Crypto Crossroads as Osborne Warns of Irrelevance, Binance Expands Access
Former UK Chancellor George Osborne warned that Britain risks becoming irrelevant in the global race for crypto leadership unless it takes bold action.
According to a report, Osborne accused the Labour government and the Bank of England of dragging their feet while rivals such as the U.S., the EU, Singapore, Hong Kong, and Abu Dhabi push ahead with legal frameworks for digital assets and stablecoins.
Osborne, who served as finance minister from 2010 to 2016 and now advises Coinbase, likened the moment to the Big Bang reforms of the 1980s that transformed London into a financial hub.
He directly challenged Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey, dismissing current government pledges to “drive forward” on stablecoins as vague and insufficient.
His intervention comes as the UK crypto sector faces both openings and new compliance demands. Binance last month restored its full range of “Earn” products for professional investors in Britain, following regulatory clarification that staking falls outside collective investment schemes.
The exchange said the move reflects growing demand from sophisticated clients and showed confidence in the UK’s evolving rulebook.
Binance UK director Nish Patel, a former Financial Conduct Authority crypto specialist, said he expects a comprehensive domestic framework, comparable in scope to the EU’s MiCA, to take shape within the next 12 months.
Meanwhile, the government has set out tougher tax reporting rules. From January 1, 2026, crypto firms will be required to collect detailed personal information on every trade and transfer under the OECD’s Cryptoasset Reporting Framework. Penalties of up to £300 per user will apply for non-compliance.
With adoption rising, 12% of UK adults now hold crypto, according to the FCA; the tension between calls for innovation and demands for oversight is sharpening.
