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The UK is being "left behind" in the crypto race, former Prime Minister George Osborne warns
Former UK Prime Minister George Osborne has warned that the UK is being "left behind" in the cryptocurrency race due to overly cautious regulatory policies. In an article on #FinancialTimes , Osborne criticized Prime Minister Rachel Reeves and Bank of England Governor Andrew Bailey for being too timid, causing the UK to lose its position in the wave of financial innovation.
Concerns from experts and the industry
Osborne compared the rise of crypto to the "Big Bang" reforms of the 1980s that helped solidify London’s financial position. He believes the Bank of England's policies on stablecoins are hindering innovation.
This concern is echoed by industry experts. Su Carpenter, Director of #CryptoUK , urged the UK government to adopt policies recognizing stablecoins and to implement fairer banking regulations for digital asset companies. Callum Mitchell-Clark, co-founder of Alvara Protocol, noted that although the UK "talks a lot" about becoming a global crypto hub, it is actually lagging far behind other regions like the EU, Singapore, or Hong Kong.
Data shows that 12% of adults in the UK currently own crypto, up from 10% in 2022. However, lawmakers continue to maintain a cautious stance, focusing on consumer protection, which is causing startups and investment capital to shift to regions with more open policies. #anhbacong
Former UK Prime Minister George Osborne has warned that the UK is being "left behind" in the cryptocurrency race due to overly cautious regulatory policies. In an article on #FinancialTimes , Osborne criticized Prime Minister Rachel Reeves and Bank of England Governor Andrew Bailey for being too timid, causing the UK to lose its position in the wave of financial innovation.
Concerns from experts and the industry
Osborne compared the rise of crypto to the "Big Bang" reforms of the 1980s that helped solidify London’s financial position. He believes the Bank of England's policies on stablecoins are hindering innovation.
This concern is echoed by industry experts. Su Carpenter, Director of #CryptoUK , urged the UK government to adopt policies recognizing stablecoins and to implement fairer banking regulations for digital asset companies. Callum Mitchell-Clark, co-founder of Alvara Protocol, noted that although the UK "talks a lot" about becoming a global crypto hub, it is actually lagging far behind other regions like the EU, Singapore, or Hong Kong.
Data shows that 12% of adults in the UK currently own crypto, up from 10% in 2022. However, lawmakers continue to maintain a cautious stance, focusing on consumer protection, which is causing startups and investment capital to shift to regions with more open policies. #anhbacong
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Czech Central Bank Considers Bitcoin Investment: A Bold Move?
The Governor of the Czech National Bank (CNB), Ales Michl, will propose a plan to invest in Bitcoin for the national reserves this Thursday. If approved, the CNB could allocate 5% of its total reserves of 146.13 billion USD to the world's largest cryptocurrency.
Bitcoin - A Diversification Asset?
In an interview with #FinancialTimes (FT), Michl stated that Bitcoin is an asset worth considering to diversify the bank's investment portfolio. He emphasized that Bitcoin currently has an almost zero correlation with bonds, making it an interesting option for a large investment portfolio.
Bitcoin - A Diversification Asset?
In an interview with #FinancialTimes (FT), Michl stated that Bitcoin is an asset worth considering to diversify the bank's investment portfolio. He emphasized that Bitcoin currently has an almost zero correlation with bonds, making it an interesting option for a large investment portfolio.
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David Sacks Sells All Crypto Before Taking Office – A Transparent Move or a Strategy?
David Sacks, the head of AI and Crypto policy at the White House, has just confirmed that he sold his entire digital asset portfolio before officially joining President Trump's administration. This move is to avoid conflicts of interest as he takes on a key role in shaping U.S. cryptocurrency policy.
Complete Crypto Divestment – A Proactive Move
In a post on X (
), Sacks stated:
Complete Crypto Divestment – A Proactive Move
In a post on X (
), Sacks stated:
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According to data #FinancialTimes , the investment company DRW Investments, founded by American financial magnate Don Wilson, acquired nearly 4 million shares of Trump Media & Technology Group for about 100 million dollars, becoming one of the leading investors in cryptocurrency projects $TRUMP Media & Technology Group. However, its competitor Jane Street is the largest investor in cryptocurrency initiatives of Trump Media & Technology Group, having invested about 375 million dollars.
DRW Investments is a major institutional player in the crypto asset market, as well as an investor in Cumberland, one of the leading liquidity providers. The company hopes that the Trump administration will reconsider the powers of the US securities regulators. Previously, DRW Investments advocated for the creation of a new regulatory body that would replace both the US Securities and Exchange Commission and the Commodity Futures Trading Commission. At the moment, Trump Media & Technology Group has not commented on DRW Investments' investments. $TRUMP
DRW Investments is a major institutional player in the crypto asset market, as well as an investor in Cumberland, one of the leading liquidity providers. The company hopes that the Trump administration will reconsider the powers of the US securities regulators. Previously, DRW Investments advocated for the creation of a new regulatory body that would replace both the US Securities and Exchange Commission and the Commodity Futures Trading Commission. At the moment, Trump Media & Technology Group has not commented on DRW Investments' investments. $TRUMP
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