Former UK Chancellor George Osborne has voiced concerns over the Labour government’s slow approach to cryptocurrency regulation. Now serving as a member of Coinbase’s Global Advisory Council, he warns that Britain risks falling behind other global powers in the fast-evolving crypto landscape.
Criticism of the UK's Slow Crypto Regulation
Osborne emphasized that while other regions are actively embracing crypto innovation, the UK remains stuck in a wait-and-see mode. This hesitation could lead to missed opportunities in what he describes as a 'historic shift' in global finance.
Comparison with the 1980s Reforms
Osborne drew a powerful comparison between the current moment in crypto and the financial deregulation reforms of the 1980s, known as the 'Big Bang.' These changes transformed London into a global financial hub. He believes a similar moment is now unfolding with digital assets, and the UK cannot afford to sit on the sidelines.
Osborne's New Role at Coinbase
Osborne’s comments carry extra weight now that he sits on Coinbase’s Global Advisory Council. His experience as Chancellor, along with his current involvement in the crypto industry, puts him in a unique position to influence the UK’s policy direction.
With figures like Osborne sounding the alarm, pressure is mounting on UK leaders to clarify their stance and avoid letting other nations dominate the future of crypto finance.
