Brian Rose, a candidate for Mayor of London, has unveiled plans to give city residents £100 worth of a new crypto token called $LONDON if elected. The token would be funded by a 1% tax on traditional banks and could be used for various transactions such as paying council bills and parking tickets. Rose believes that the token would give residents more spending power and provide greater access to cryptocurrencies, ultimately aiming to make London a “crypto-friendly city.”
Rose is competing against twelve other candidates in the upcoming May 2 election, with current Mayor Sadiq Khan leading in the polls. Rose, a former Wall Street banker and founder of the London Real Party, has faced controversy for platforming conspiracy theories and misinformation. His media firm, London Real, had its YouTube channel taken down in 2023, and the London television station he was associated with, London Live, was criticized for breaking broadcasting rules during an interview with conspiracy theorist David Icke.
Despite his controversial past, Rose is committed to making London a hub for cryptocurrencies, web3, and blockchain industries. With the United Kingdom having a substantial cryptocurrency economy, Rose believes that his crypto policy could position London as the financial capital of the world once more. The London Stock Exchange recently announced plans to launch Bitcoin and Ethereum exchange-traded notes (ETN) in May, further cementing London’s position in the crypto space.
Rose’s campaign website states that he aims to inspire the next generation of leaders to invest in financial education and establish London as a center of excellence for emerging technologies. By providing £100 worth of the LONDON token to every London resident, Rose believes that he can encourage widespread adoption of cryptocurrencies and boost the city’s chances of becoming a major hub for revolutionary technologies. His candidacy is seen as a significant moment for the legitimization of cryptocurrencies in political elections globally.
While Rose’s proposal to introduce the LONDON token may be met with skepticism, especially given his history of promoting conspiracy theories, it reflects a growing trend of political figures embracing cryptocurrencies as a means of promoting financial inclusion and innovation. With London already having a strong presence in the cryptocurrency industry, Rose’s plans could further solidify the city’s position as a leader in the global crypto market. As the election approaches, it remains to be seen whether London voters will support Rose’s vision of a crypto-friendly city and his ambitious plans for the future.
