UK Might Be Overlooking Another Crypto Surge, Cautions Ex-Chancellor George Osborne
In a cautionary message to the UK government, ex-Finance Minister George Osborne stated that Britain risks being “left behind” in the international crypto asset competition. As reported by a Financial Times article released on 4 August 2025, Osborne noted, “Britain failed to seize the first crypto wave. We cannot afford to miss the second.”
“We established ourselves as the global financial hub because we embraced transformation,” Osborne remarked. “When it comes to crypto and stablecoins, as is the case with various other sectors, the stark reality is: we are being entirely left behind. It’s time we made up for lost ground.”
Osborne made comparisons to the revolutionary “Big Bang” of the 1980s. He called for swift and effective measures to ensure the UK doesn’t lose out on what he describes as “a remarkable chance for financial innovation.”
In case you weren’t aware – the world is progressing with crypto and digital assets, (especially among banks & financial institutions.)
Sadly, Britain isn’t keeping pace.
Former UK Chancellor @George_Osborne has a point…
…it’s time to shift gears.
Moreover – if Osborne had… pic.twitter.com/Wu3w18P4aQ
— Ian Simpson (@ian_simpson80) August 4, 2025
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Osborne Joins Global Advisory Council for Crypto Trading network Coinbase
Remarkably, the former Finance Minister is a member of the Global Advisory Council for Coinbase. He criticized the Labour Party’s stance on digital assets as “excessively cautious” and slow. Moreover, he contends that regulatory inertia and bureaucratic holdups are causing the UK to lag dangerously behind the US, European Union (EU), and Asian nations such as Singapore, Hong Kong, and Abu Dhabi.
On 4 August 2025, a Coinbase advertisement—a satire on the traditional financial system—was banned. The prohibition in the UK was initiated by the TV Networks. Coinbase CEO Brian Armstrong shared on X that “there are individuals in the UK who still perceive crypto as merely a gambling tool (a very obsolete perspective), and have completely overlooked the potential of crypto to modernize and enhance the financial system for everyone’s advantage.”
The advertisement that was banned in the UK by the TV networks has generated significant reactions. If it can’t be expressed, then there must be an element of truth in it.
Updating the system and enhancing society is not a political stance pertaining to either party in the UK (though some have attempted to twist it… https://t.co/VJqyYnnI2W
— Brian Armstrong (@brian_armstrong) August 3, 2025
Armstrong has not only contested the ban but also asserted that the company will persist in making similar assertions. His post garnered both backlash and accolades, with some noting that “nothing beats getting banned to achieve viral status.”
Nothing beats getting banned to go viral
The commentary on the UK falling behind is unfortunately accurate—we’re no longer even part of the major settlement discussions.
What has the reaction been so far?
Well done
— Liz Towler (@LizTowler) August 4, 2025
Simultaneously, UK Minister Proposes Ban On Political Donations In Crypto
UK Cabinet Office minister Pat McFadden recently raised concerns about political donations made via crypto asset. According to a Guardian report published on 18 July 2025, McFadden, a close supporter of UK Prime Minister Keir Starmer, remarked, “The funding of democracy often stirs controversy; however, it’s crucial that we understand who is making the donations, whether they are properly registered, and what the legitimacy of that donation is.”
The UK has been implementing consecutive crypto reforms through HM Revenue and Customs (HMRC). The government has introduced another expansive regulatory measure motivated by the adoption of the Organisation for Economic Co-operation and Development’s (OECD) Cryptoasset Reporting Framework (CARF). Beginning 1 January 2026, all crypto enterprises will be required to collect and reveal detailed user and transaction information.
The Financial Conduct Authority (FCA) has also suggested a crypto law to prevent retail investors from buying cryptocurrencies with borrowed assets, including credit cards, personal loans, and loans from crypto-specific lenders. However, certain crypto enthusiasts worry that the UK’s ban will deter innovation and restrict trading market access.
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Key Takeaways
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George Osborne warns that Britain may not only miss the tremendous economic gains of the digital asset evolution—including job creation, investment, and tax income—but also jeopardize its overall competitiveness within the global financial services arena.
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Central to Osborne’s argument is the notion that the ongoing transition toward digital finance signifies a critical inflection point, akin to the deregulation of London’s financial markets in the 1980s.
The post UK May Be Missing Out On Another Crypto Wave, Warns Former Chancellor George Osborne appeared first on 99Bitcoins.
