George Osborne Warns UK Risks Falling Behind in Global Crypto Adoption Race
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George Osborne urges urgent UK crypto adoption, warning delays in stablecoin policy risk falling behind the US, EU, and Asia Former UK Chancellor George Osborne has raised concerns about Britain’s slow approach to cryptocurrency. He believes the UK is lagging behind the United States, the European Union, and Asia. Osborne likened this moment to the 1980s financial Big Bang reforms, which had turned the City of London into a leading global financial centre. To him, crypto sector is currently providing a similar historic opportunity. The country should, however, move fast to take advantage of it. Osborne Pressures Reeves, BoE to Act on Stablecoins Osborne has been a Chancellor from 2010 to 2016 and is currently a member of the Global Advisory Council of Coinbase, a major U.S. cryptocurrency exchange. Addressing a crowd, he blamed the existing Chancellor Rachel Reeves and the Bank of England (BoE) Governor Andrew Bailey. By being cautious about digital assets, he claimed that they were leaving Britain in the slow lane. In addition, Osborne highlighted the fact that the UK is not quick enough to give retail investors access to crypto derivatives and exchange-traded notes (ETNs). These products are already offered to investors in the US and the EU. Osborne cautioned that such a delay can drive crypto-related businesses and investments abroad. Related Reading: FCA Allows UK Retail Investors Access to Crypto ETNs from October 2025 He encouraged the Chancellor and the BoE to be quick by developing a legal framework of stablecoins. No doubt Reeves has given assurances of advancing the development of stablecoins, but Osborne is not certain what this implies on the ground. He also mentioned that Andrew Bailey was not fully convinced that commercial banks need to issue stablecoins, which might decelerate the progress even more. Despite such concerns, Osborne made it…
Filed under: News - @ August 5, 2025 4:20 am