Former UK Chancellor George Osborne warns against the country's risk of losing leadership in the cryptocurrency sector. He emphasizes the urgent need for regulatory reforms.
Critique of UK’s Regulatory Policy
Osborne criticized the current stance of the Labour government and the Bank of England, describing it as slow and indecisive. He called for a more proactive approach to digital assets.
Comparison with Other Countries
He noted that rapid regulatory progress is occurring in the US and other regions such as the EU and Singapore, while the UK risks being left behind.
Cybersecurity Issues and New Legislation
In light of the Home Office's proposal to ban ransom payments in cyberattacks, Osborne stressed the need for clear legislative regulation to ensure economic security and protection.
Thoughtful steps toward reforming the regulatory system can help the UK improve its stance in the cryptocurrency landscape while addressing cybersecurity challenges.
