UK’s Crypto Hub Ambitions Stalled by Regulatory Delays
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The UK’s aspiration to become a global cryptocurrency hub is losing momentum as regulatory delays create a competitive gap with jurisdictions like the US and EU. Industry executives warn that Britain risks irrelevance without accelerated action.
Despite announcing crypto hub ambitions in 2022, the UK only began soliciting feedback on draft legislation this week. This sluggish pace contrasts sharply with the EU’s implemented MiCA framework and the US’s pro-innovation stance under the Trump administration.
Singapore and Hong Kong are outpacing London in regulatory clarity and adoption rates. The delay compounds existing challenges from last year’s market turmoil, requiring decisive action to restore investor confidence.
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