Coinbase CEO Brian Armstrong and former UK Chancellor George Osborne sharply criticized the British authorities for failures in regulating cryptocurrencies. On August 4, 2025, Armstrong called the censorship of Coinbase's satirical video 'It's All Good' a confirmation of problems with the system, emphasizing that cryptocurrencies could revitalize the economy. The video, banned by British broadcasters, gained popularity, sparking discussions about the financial difficulties faced by 44% of the population.
Osborne, who joined Coinbase's advisory board, accused Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey of excessive caution. He warned that the UK risks falling behind the US, EU, and Singapore due to a lack of a clear legal framework for stablecoins. Experts note that delays in regulation threaten London's position as a financial center.
The criticism coincided with Fair4All Finance data showing an increase in financial vulnerability, highlighting the need for innovation. Armstrong stressed that censorship only spreads their message, while Osborne called for reforms similar to the 'Big Bang' of the 1980s.
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