Former UK Chancellor George Osborne has just criticised the UK's failure on Bitcoin.
And he's absolutely right.
In his recent opinion piece in the Financial Times, Osborne reflects on using the UK's first Bitcoin ATM 11 years ago and how Britain let that early lead slip away. The world is moving fast, and the UK is falling further behind. At least someone is paying attention.
He names the symptoms we know too well:
- Retail investors blocked from spot Bitcoin ETFs
- Banks routinely freezing lawful transactions
- Startups suffocated by slow, unclear onboarding
- Policymakers hiding behind regulators while others build
Osborne calls for political courage and clarity. He wrote, "On crypto and stablecoins, as on too many other things, the hard truth is this, we're being completely left behind. It's time to catch up."
If we missed the first wave, which was Bitcoin, we are now at risk of missing the second, which is stablecoins. Other countries are advancing rapidly with clear legal frameworks and a drive to innovate. The UK remains stuck.
Osborne draws the same line we've been making at Bitcoin Policy UK. Bitcoin is not the same as "crypto." It is foundational monetary infrastructure. Stablecoins are financial plumbing. Both matter, but both require distinct, thoughtful regulation. That clarity is still missing here.
His call for a new Big Bang moment and serious reform in the spirit of the 1980s.
At Bitcoin Policy UK we've been sounding this alarm in meetings, consultations, articles, and in conversations across government. Osborne's article reinforces exactly what we've been saying. Without urgent change, we risk becoming a cautionary tale.
The UK doesn't lack talent and opportunity. It lacks leadership.
Osbourne gets it. The question is... will anyone in Westminster catch up?
Read the full article here:
https://www.ft.com/content/2b554e86-a4a6-4361-8db6-04876528b02b
