George Osborne Warns UK Risks Falling Behind in Crypto
Ex-Chancellor George Osborne urges UK to act fast on crypto or risk falling behind the US, EU, and Asia.
- Osborne criticizes UK’s cautious approach to crypto.
- He compares the crypto shift to the 1980s “Big Bang” reforms.
- Osborne now advises Coinbase on global crypto strategy.
Former UK Chancellor George Osborne has voiced strong concerns over the Labour government’s slow approach to cryptocurrency regulation. Speaking in his new role as a member of Coinbase’s Global Advisory Council, Osborne emphasized that Britain is at risk of falling behind global powers like the United States, European Union, and Asia in the rapidly evolving crypto space.
Osborne highlighted that while other regions are actively embracing crypto innovation, the UK remains stuck in a wait-and-see mode. According to him, this hesitation could lead to missed opportunities in what he believes is a “historic shift” in global finance.
A “Big Bang” Moment for Digital Finance
Drawing a powerful comparison, Osborne likened the current moment in crypto to the financial deregulation reforms of the 1980s, known as the “Big Bang.” Those changes transformed London into a global financial hub. Osborne believes a similar moment is now unfolding with digital assets—and the UK cannot afford to sit on the sidelines.
He called on the UK government to act quickly by providing clearer regulations and creating an environment that supports innovation while maintaining financial stability.
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, the pressure is mounting on UK leaders to clarify their stance and avoid letting other nations dominate the future of crypto finance.
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