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4w ago

Coinbase Push Drives UK Stablecoin Petition Past 5,000 Signatures

A mandated government response looms at 10,000 signatures, making the petition a test of the country’s crypto policy direction.

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Overview

  • The UK Parliament-hosted petition calls for a stablecoin and tokenization framework, government blockchain adoption, and the appointment of a national blockchain lead.
  • Coinbase accelerated participation by sending in-app prompts to UK users, propelling the petition past the 5,000 mark this week.
  • A formal government reply is triggered at 10,000 signatures, and parliamentary debate is considered at 100,000; the petition runs until March 3, 2026.
  • Backers frame the campaign as vital for competitiveness, warning the UK could cede ground to Singapore, Hong Kong, and Abu Dhabi without clear rules.
  • Policy signals remain mixed, with Bank of England Governor Andrew Bailey expressing scepticism over stablecoins as Chancellor Rachel Reeves pledges to drive regulation forward.