Overview

• In a Financial Times op-ed, former chancellor George Osborne, now a Coinbase advisor, warned that UK caution on cryptocurrencies and stablecoins risks leaving Britain behind rivals.
• FCA figures show that 12% of UK adults hold cryptocurrencies, up from 10% in 2022, yet adoption still trails jurisdictions like Singapore, Hong Kong and Abu Dhabi.
• The Financial Conduct Authority has unveiled plans to bar retail investors from using credit cards and other borrowed funds to purchase cryptocurrencies in a bid to protect consumers.
• The Advertising Standards Authority upheld UK broadcasters’ ban on a satirical Coinbase TV ad, prompting CEO Brian Armstrong to decry the decision as censorship and outdated thinking.
• Trade group CryptoUK and startup Alvara Protocol are lobbying for legal recognition of stablecoins and a unified crypto-asset licensing framework to foster industry growth.