Coinbase CEO Brian Armstrong Spotted at 10 Downing Street as UK Crypto Regulations Face Major Shakeup

Crypto''s power players are knocking on Westminster''s door—and they''re not asking for permission.

Coinbase CEO Brian Armstrong was photographed entering 10 Downing Street today, fueling speculation about an imminent overhaul of the UK''s cryptocurrency regulations. The meeting comes as the Treasury faces mounting pressure to clarify its stance on digital assets—or risk losing the sector to friendlier jurisdictions.

Behind closed doors: What we know

While details remain scarce, Whitehall insiders suggest the discussion focused on creating clearer guidelines for crypto exchanges and institutional investors. The UK''s current "wait-and-see" approach has frustrated both startups and established players—especially as the EU''s MiCA framework gains traction.

Timing is everything

The surprise meeting coincides with rumors of a pending Financial Services and Markets Bill amendment that could finally recognize crypto as regulated financial instruments. Critics argue the government is playing catch-up after years of treating digital assets like a speculative Wild West—while quietly pocketing the tax revenue.

One thing''s certain: When crypto billionaires start getting red-carpet treatment in Westminster, change is coming. Whether it''s meaningful reform or just political theater remains to be seen—after all, nothing moves slower than legacy finance... except maybe government bureaucracy.

Coinbase’s engagement highlights the firm’s continued push to shape crypto regulation outside the United States. The UK, viewed as a more open and forward-thinking market, has emerged as a strategic focus for global crypto players.

Notably, Coinbase recently obtained registration as a VIRTUAL Asset Service Provider (VASP) in the UK, marking a significant milestone in its expansion. The license places the exchange among the country’s top officially recognized crypto service providers.

UK’s crypto rule

Coinbase’s meeting with the UK authorities comes as the government is stepping up efforts to bring structure to its crypto regulatory landscape.

A recent Financial Conduct Authority (FCA) study shows that around 12% of UK adults hold crypto. This growing adoption has prompted policymakers to draft legislation to tighten control and ensure transparency in the emerging industry.

UK authorities published draft rules in May to build a comprehensive oversight framework.

One of these regulations, expected to take effect by 2026, will require crypto service providers to collect and submit key user and transaction data. The goal is to share this information with His Majesty’s Revenue and Customs (HMRC) to ensure greater tax compliance and oversight.

Policymakers argue that these changes are essential to promote trust, protect users, and attract crypto businesses seeking clarity on the jurisdiction.