‍Coinbase Advisor Warns UK: Embrace Crypto or Risk Financial Irrelevance
George Osborne, former UK Chancellor and Coinbase advisor, has voiced concerns over the UK's slow adoption of digital assets, particularly stablecoins. He stated, "Far from being an early adopter, we have allowed ourselves to be left behind."
Osborne highlighted the critical role of stablecoins in streamlining transactions and cross-border remittances. He argued that London's financial leadership was built on embracing innovation, an attitude now absent. The UK risks losing its standing if it doesn't act decisively, especially as the US progresses with legislation like the GENIUS Act.
Coinbase's efforts, including a recent musical ad, underscore the company's push to influence UK crypto policy. The UK must prioritize stablecoin legislation, re-embrace innovation, and address regulatory uncertainty to secure a meaningful stake in the future of finance.