Osborne Warns UK Is Falling Behind in Global Crypto Race

Former UK Chancellor George Osborne has warned that the United Kingdom risks falling behind in the global race for crypto adoption. In a recent statement, Osborne emphasized that regions such as the United States, the United Arab Emirates, and Asia are leading the way, while the UK is becoming increasingly hesitant toward innovation.

Osborne urged current Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey to speed up the development of a regulatory framework for stablecoins, stating that it is “time for the UK to catch up.” He argued that the country’s previous financial success was based on its openness to change — an approach currently lacking in its digital asset policies.

Now a member of the Coinbase Global Advisory Council, Osborne noted that the European Union, Abu Dhabi, the United States, and Hong Kong are advancing more rapidly in crypto regulation and integration. In April, Rachel Reeves promised to make the UK “the best place” for crypto innovation, aiming to attract investors and support the fintech sector.