Crypto industry representatives redoubled their advocacy for clear rules Thursday (April 26th), as a cross-party parliamentary group focused on crypto and digital assets was relaunched.

The All-Party Parliamentary Group (APPG) for crypto assets now boasts a Labour Party MP and a Conservative Lord among its co-chairs – a notable shift reflecting the subject’s salience on Parliament’s agenda.

CryptoUK, the country’s leading industry association representing over 150 market participants, has been designated the strategic supporter of the renewed initiative, according to a public announcement.

The newly formed group, helmed by Labour MP Gurinder Josan and Conservative Lord Ed Vaizey (a former digital economy minister), aims to foster dialogue between MPs and government regulators.

“Our goal is to make the UK the safest place for consumers and the best place for businesses to invest and build, meaning establishing robust, fair and future-focused rules.”

The relaunched APPG emerges at a time when UK authorities are phasing in new crypto regulations, but industry groups increasingly complain these rules are too stringent. Earlier this month, HMRC announced mandatory reporting requirements for crypto firms that take effect next year.

Meanwhile, market participants wait for the UK Government’s formal legislative response to the April draft regulations proposed by Chancellor Rachel Reeves, which invited public input that remains unreported.

Industry Imperative

The APPG was formally relaunched to address significant gaps between the apparent crypto adoption growth reported separately by the Financial Conduct Authority and the absence of a full regulatory framework.

“The need for regulatory certainty has never been greater… This group will act as a platform for dialogue and help shape the future of cryptoassets in the UK,” said Vaizey, bringing considerable experience to the oversight function.