In a warning to the British government, former finance minister George Osborne said that Great Britain could be “left behind” in the world of cryptography. According to a Financial time report Published on August 4, 2025, Osborne said: “Great Britain missed the first wave of crypto. We cannot miss the second.”
“We have become the global financial center because we were not afraid of change,” said Osborne. “On the crypto and the stablecoins, as on too many other things, the hard truth is as follows: we are completely left behind. It’s time to catch up.”
Osborne made parallels with the “big bank” transformative of the 1980s. He asked for immediate and decisive action to prevent the United Kingdom from missing what he calls “a historic opportunity in financial innovation”.
In case you have not noticed – the world goes forward on cryptographic and digital assets (especially among banks and financial institutions.)
Great Britain (unfortunately) does not follow.
Former British chancellor @George_osborne right …
… It’s time to start up a gear.
Besides – if Osborne had … pic.twitter.com/wu3w18p4aq
– Ian Simpson (@ ian_simpson80) August 4, 2025
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Osborne sits on the Global Advisory Council for Crypto Exchange Coinbase
In particular, the former finance minister sits on the World Coinbase Advisory Council. He called the Labor Party approach to “too prudent” and slow digital assets. In addition, he maintains that regulatory inaction and bureaucratic delays mean that the United Kingdom is dangerously hidden, the European Union (EU) and Asian countries like Singapore, Hong Kong, Abu Dhabi.
On August 4, 2025, an advertising Coinbase – a satire on the financial system – was prohibited. The British ban was launched by television networks. The CEO of Coinbase, Brian Armstrong, went to X to say that “there are people in the United Kingdom who always consider crypto as a kind of game product (a very outdated vision), and have completely missed the potential of the crypto which consists in updating and improving the financial system for the benefit of all.”
Our announcement which was prohibited in the United Kingdom by television networks sparked a reaction. If you cannot say it, then there must be a core of truth.
Need to update the system and improve society is not a political declaration on one or the other of the parties in the United Kingdom (some have tried to turn it …
– Brian Armstrong (@brian_armstrong) August 3, 2025
The CEO of Coinbase not only challenged the ban, but insisted that the company will continue to make similar declarations. Armstrong’s position has received both criticism and support, people stressing that “nothing better than being prohibited to become viral”.
Nothing better than being prohibited to become viral
The message on the United Kingdom that hides is painfully exact – we are no longer even in the conversation for the main establishments.
How has been the answer so far?
Well -played
– Liz Towler (@liztowler) August 4, 2025
Read more: the British minister calls for the ban on political gifts made in crypto: says that “the financing of democracy is a controversial field”
Meanwhile, the British Minister calls for the ban on political gifts made in crypto
British Minister of the Office Pat McFadden firm recently questioned the political gifts made in crypto. According to a Guardian report published on July 18, 2025, McFadden, a close ally of the British 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 provide the donation, are they correctly recorded, what are the cheap fides of this gift.”
The United Kingdom has introduced consecutive cryptographic reforms via HM Revenue and Customs (HMRC). The Government has introduced another radical regulatory decision motivated by the adoption of the Economic and Development Cooperation Organization (OECD) Crypto-ASET Reporting Framework (CARF). From January 1, 2026, all Crypto companies will have to collect and disclose detailed data on users and transactions.
The Financial Conduct Authority (FCA) also proposed a rule that would prevent retail investors from buying cryptocurrencies using borrowed funds that include credit cards, personal loans and even loans from specific to crypto lenders. However, some crypto users fear that the British prohibition will discourage innovation and limit market access.
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Main to remember
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According to George Osborne, Great Britain is not only likely to miss the immense economic advantages of the digital asset revolution, including jobs, investments and tax revenue, but also compromises its global competitiveness in the world sector of financial services.
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At the heart of Osborne’s argument is the belief that the current transition to digital finance represents a central moment, similar to the deregulation of the financial markets of London in the 1980s.
The post UK can miss another crypto wave, warns the former chancellor George Osborne appeared first on 99Bitcoins.
