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Former British Chancellor George Osborne warned that the current government was in danger of disappearance on Crypto. Can Britain catch?
Summary
- Former UK Chancellor and Coinbase Global Advisor George Osborne says the UK risks are lagged behind the US, Hong Kong, Singapore and Abu Dhabi, if it does not hug Crypto soon.
- The UK has come to create major mava in terms of regulatory Frameworks that adjusts Crypto and maintains a cavity approach, maintaining digital assets of Tavards.
For a response report from the Financial Times, the official channel George Osborne strictly criticized the government of the approach to cryptocurrency. He believes that the region is in danger of being “missing” on Crypto, which is widely to the world, so much in such a way how long to embrace the major financial reforms of the 1980s.
“We create a financial center of the world because we were not afraid of change,
“On Crypto and Stabecrimons, such as on many other things, the difficult truth is this: we are completely lagging behind.
He said that blaming regulator is just a “lame excuse” to regulators to be highly imprisoned for digital assets. Therefore, he believes that the U.S. Should be followed in the footsteps of.
He explains that in the context of the Global Crypto race, the UK was in danger of falling compared to areas such as the US, Singapore, Hong Kong and Abu Dhabi, with regulations and governments to eats Crypto Devilopment with the government.
Is Britain really missing from the Crypto Wave?
Compared to the US and Hong Kong, two regions that have been resumed to re -introduced the regulatory sector -promoting sector sector sector, the Bank of England has been more reluctant to embrace Stabelin.
The Governor of Bank of England, Andrew Bailey, said in a previous report that BOE remains unrelated, which will use their resources in Stabecrims, due to the protection and the risk of traditional fiat currencies offered by traditional bank deposits and the proclaimed currencies.
He said, “There may be a role for stabechoin to move forward, but I don’t see them as an alternative to commercial bank money,” he said.
In addition, the UK has come to establish a legal crypto framework as the European Union is with its asbestos regulation. Although the UK published a Crypto ET Asset Regulation Consultation in February 2023, until August 2025, it has not enacted the draft law or has not implemented an integrated licensing regime.
While Euronext of Lisid Crypto EXCHANGER and ETNS and Spot ‘Bitcoin ETF has been available to the European Union and American retail investors respectively, which are in early 2018 and January 2024 respectively, Britain has started consulting in the middle of 2025 to lift its retail ban on Cryptocurrency and ETNS respectively. Implementation is planned for October 8, 2025.
Excessive daming is the fact that the UK financial regulators are planning to impose a ban that will prevent retail investors from using credit card blatts and other lending funds to invest in cryptocurrency. The move was announced in May, Crypto Boom was fuel by the US.
Although it aims to protect retail investors, critics have been warned that retail traders are refusing to push that the tradition can find irregular and market lenders.
Defense of the government
Back in April, acting Chancellor Rachel Reeves said that she wanted to make a binte to make “the best place in the world”. Treasury expressed eagerness to place “strong rules around Crypto”.
In addition, the present government claimed that it was in the process of establishing a technology partnership with the American part.
“We are doing a lot in this space,”
UK controversial ban on coinbase ad
After stepping into a Chancellor, Osborne is currently serving as a member of the Global Advisory Council of the US Crypto-Exchange Coinbase. His comments come after public backlash after the latest advertisement of Coinbase was banned by the UK TV network.
On August 4, CEO Brian Armstrong, CEO of Coinbase, criticized the state and institutions who refused to broadcast the advertisement. He highlighted the old ideas on cryptocurrency which still remains in the region.
In a rent post, Armstrong said Armstrong said, “There are people in Britain who still think of Crypto as some kind of gaming product (a very old scene), and have completely remembered Crypto’s ability that improves updates and final systems for everyone’s benefits.”
He said, “We welcome the attackers and any other attack to censor this message, as it simply helps spread it,” he said.
