In a warning for the government of the United Kingdom, the former finance minister George Osborne said that Great Britain could be “left behind” in the global encryption breed. Second to Report on financial times Published on August 4, 2025, Osborne said: “Great Britain has lost the first wave of cryptocurrencies. We cannot lose the second”.
“We became the world financial center because we were not afraid of change,” said Osborne. “On cryptocurrency and stablecoins, like too many other things, the hard truth is this: we are completely left behind. It is time to recover.”
Osborne designed parallelisms to the transformative “large bank” of the 80s. He urged an immediate and decisive action to prevent the United Kingdom from losing what he calls “a historical opportunity in financial innovation”.
In the event that I had not noticed: the world is going on on cryptocurrencies and digital activities (ESP between banks and financial institutions.)
Great Britain (unfortunately) is not in step.
Former Chancellor of the United Kingdom @George_osborne it’s right …
… it’s time to kick on march.
Also – if Osborne had … pic.twitter.com/wu3w18p4aq
– Ian Simpson (@ian_spson80) August 4, 2025
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Osborne is part of the Global Advisory Council for Crypto Exchange Coinbase
In particular, the former Finance Minister is part of the global consultative council for Coinbase. He called the Labor Party approach to “excessively cautious” and slow digital resources. In addition, it claims that regulatory inaction and bureaucratic delays are dangerously causing the United Kingdom behind us, the European Union (EU) and Asian countries such as Singapore, Hong Kong, Abu Dhabi.
On August 4, 2025, a coinbase advertisement- a satire on the financial system- was prohibited. The ban on the United Kingdom was started by TV networks. Coinbase CEO Brian Armstrong led to X to say that “there are people in the United Kingdom who still think about the crypt as a sort of game product (a very obsolete vision) and have completely lost the cryptocurrency potential that is to update and improve the financial system for the benefit of all”.
Our announcement that was banned in the United Kingdom by TV networks has aroused a real reaction. If you can’t say it, then there must be a core of truth.
Decideni to update the system and improve society is not a political declaration on both sides in the United Kingdom (some have tried to turn it … https://t.co/vJqyynni2W
– Brian Armstrong (@brian_armstrong) August 3, 2025
Coinbase CEO has not only contested the ban, but insisted on the fact that the company will continue to make similar statements. Armstrong’s post received both criticism and support, with the people who stressed that “nothing better than being prohibited to become viral”.
Nothing better than being forbidden to become viral
The message on the fall of the United Kingdom is painfully accurate: we are no longer even in the conversation for the main settlements.
How was the answer so far?
Well done
– Liz Towler (@liztowler) August 4, 2025
Read more: the United Kingdom Minister asks for the ban on political donations made in crypt
In the meantime, the United Kingdom Minister asks for the ban on political donations made in cryptocurrencies
The Minister of the UK Cabinet Office Pat McFaddden recently questioned the political donations made in cryptocurrency. According to a guardian report published on July 18, 2025, McFadden, a close ally of the United Kingdom Prime Minister Keir Starmer, said: “The financing of democracy is often a controversial area, but I think it is very important that we know who is providing the donation, they are adequately registered, which are the pusti in bona of that donation”.
The United Kingdom introduced back-to-back cryptocurrencies through HM Revenue and Customs (HMRC). The government has introduced another wide legislation led by the adoption of the organization for economic cooperation and the OECD (OECD) Cryptoasset Reporting Framework (Carf). Starting from 1 January 2026, all cryptocurrency companies will have to collect and spread data on users and detailed transactions.
The Financial conduct Authority (FCA) has also proposed a rule that would prevent retail investors from buying cryptocurrencies using funds borrowed that include credit cards, personal loans and even loans from crypto-specific credit institutions. However, some cryptographic users fear that the ban on the United Kingdom will discourage innovation and limit access to the market.
Find out: 9+ Best High Risk and High Senza Cryptocurrencies to be purchased in August 2025
Keyway keyway
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According to George Osborne, Great Britain risks not only losing the immense economic benefits of the revolution of digital activities, including jobs, investments and tax revenues, but also undermining its overall competitiveness in the global financial services sector.
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At the center of the topic of Osborne is the belief that the current movement towards digital finance represents a fundamental moment, similar to the deregulation of the London financial markets in the 1980s.
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