UK’s Cautious Crypto Regulation May Risk Falling Behind Global Rivals, Coinbase Highlights Challenges

Key Points

1. Former Chancellor George Osborne criticized the UK’s slow adoption of crypto-friendly policies, stating it is being left behind by more progressive jurisdictions like the EU, US, and Dubai.

2. The Financial Conduct Authority’s 2023 regime imposes strict measures such as 24-hour cooling-off periods and advertising restrictions, which some experts believe stifle market expansion.

3. Industry leaders, including Coinbase CEO Brian Armstrong, express frustration with the UK’s regulatory gridlock, contrasting it with the EU’s MiCA framework and the US’s active regulatory environment.

4. FCA data from 2024 shows 12% of UK adults hold crypto assets, but adoption lags behind Singapore (15%) and Hong Kong (14%), where regulatory approaches are more progressive.

5. Experts call for clearer tax policies and regulatory reforms to foster innovation and economic growth in the UK’s crypto sector.