PANews reported on May 23 that, according to CoinDesk, the UK will hold an early general election on July 4, and the pro-cryptocurrency Conservative Party may face defeat. The Conservative Party is committed to making the UK a cryptocurrency hub and promoting legislation to recognize digital assets as regulated financial services. In March this year, UK Prime Minister Sunak hosted members of the cryptocurrency community at 10 Downing Street and reiterated the cryptocurrency legislation plan. According to the latest polls, the opposition Labour Party is most likely to win the election. The Labour Party has not yet stated its position on cryptocurrency legislation, but it aims to make the UK a tokenization center and supports the Bank of England's digital pound initiative.