Mayor of London candidate Brian Rose announced plans on Wednesday to give city residents £100 worth of a new crypto token if elected as part of his plans to make the capital a “crypto-friendly city.”

The token, aptly called $LONDON, would be funded by a 1% tax on traditional banks and could be used by constituents to “pay council bills, parking tickets, and more.”

London Mayor Candidate Brian Rose Unveils Crypto Token

Designed for residents of all abilities to spend, invest, or trade, Rose believes the novel token would give city residents a bit more spending power and provide greater access to cryptocurrencies.

“​​Cryptocurrency is the future and I believe the LONDON token, with its inbuilt utility and sizable liquidity pool, is the perfect way to provide a much-needed financial education for every person in Greater London,” Rose said. 

Will London Become Crypto’s Epicenter?

Rose is just one of thirteen hopefuls running to be London’s next mayor in the May 2 election. Incumbent Sadiq Khan is currently leading in the polls, followed by British Conservative Party candidate Susan Hall.

Rose, a former Wall Street banker-turned-media-mogul and founder of the London Real Party, previously ran for mayor of London in 2021. 

He has earned a reputation for platforming conspiracy theories and misinformation, with YouTube taking down his media firm’s channel, London Real, in 2023.

In 2020, the UK’s Office of Communications chastised the capital television station, London Live, for breaking national broadcasting rules regarding Rose’s interview with David Icke, a well-known conspiracy theorist. 

As part of my commitment to making London a crypto-friendly city, I am excited today to announce my new campaign policy as your next Mayor to give every person in London £100 worth of a new capital crypto token.

The revolutionary token, LONDON, would be accepted across London’s… pic.twitter.com/LPhnYWzfLv

— Brian Rose (@BrianBRose) April 10, 2024

Most recently, Rose released a feature length documentary entitled “We Will Not Be Silenced,” covering the aftermath of his interview with Icke.

According to his campaign website, Rose hopes to make London the “financial capital of the world once more” by making it “the center of the crypto, web3, and blockchain industries.”

The United Kingdom boasts one of the world’s largest cryptocurrency economies, with over $1.39 billion in cryptocurrency gains last year alone.

Just last month, the London Stock Exchange (LSE) announced that it would launch Bitcoin and Ethereum exchange-traded notes (ETN) on May 28.

If elected, Rose believes his crypto policy may propel London’s chances of becoming a major hub for emerging technologies in the near future.

“I think this new initiative will inspire the next generation of leaders to invest in financial education, as well as provide the underpinning for London to become a center of excellence for these revolutionary technologies,” he stated.

Rose’s candidacy marks a critical moment for advocates of cryptocurrencies as they attempt to achieve legitimacy in political elections worldwide.