UK Lagging Behind in Stablecoin Regulation as Global Competitors Forge Ahead

The UK's 250-page stablecoin review underscores its regulatory tardiness in the digital asset space. While Japan enacted its Stablecoin Law in 2022, followed by Singapore (2023), Abu Dhabi (2024), and the US with the GENIUS Act, Britain remains mired in theoretical discussions. The delay is particularly glaring given London's post-Brexit opportunity to become a crypto hub—an ambition championed by Prime Minister Rishi Sunak but never executed.

Regulatory inertia carries significant economic consequences. Unlike capital-intensive initiatives, effective crypto frameworks require intellectual rigor rather than financial expenditure—yet yield disproportionate rewards in innovation and investment. Circle's recent $50 billion market debut with USDC exemplifies the value being captured elsewhere. The UK's failure to convert policy awareness into action has effectively sidelined it from the digital currency infrastructure race.