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Former UK Chancellor George Osborne has warned that the UK’s cautious approach to crypto regulation risks leaving the country behind in the global financial race. With 12% of UK adults now holding crypto, Osborne likens the current moment to the transformative 1980s Big Bang reforms. Industry voices echo his concerns, calling for legal recognition of stablecoins and faster regulatory action.
- George Osborne compares the UK's crypto regulatory approach to missing a 'Big Bang' moment, warning it could cost the country its financial leadership position.
- Industry groups highlight key pain points: lack of stablecoin recognition, restrictive banking policies, and a tax framework that inhibits crypto sector growth.
- While 12% of UK adults now hold crypto (per FCA data), the country's strict advertising rules and slow regulatory progress contrast sharply with more crypto-friendly jurisdictions like Singapore and the EU.
📎 Source reference: decrypt.co