Former Chancellor George Osborne warns that the UK is lagging behind in the global crypto race and calls for a robust regulatory framework to catch up.
Former UK Chancellor George Osborne criticized the government’s cautious approach to cryptocurrencies, warning that the UK risks missing out on the global crypto wave. He urged the establishment of a legal framework similar to those in the US and EU to foster innovation and prevent the region from falling behind other nations that are advancing in crypto regulations. Osborne highlighted the Bank of England's reluctance to embrace stablecoins and the lack of a unified legal framework in the UK, contrasting it with faster-moving regions like Singapore and Abu Dhabi.