Kraken\u2019s UK chief has criticized the government\u2019s slow approach to cryptocurrency regulation, warning that Britain risks losing its status as a global fintech leader. The UK once led financial innovation, boosted by early adoption of open banking and supportive policies for new financial technologies. However, according to Kraken\u2019s Bivu Das, a lack of clear crypto rules has put the country behind the US and EU, both of whom are advancing their regulatory frameworks for digital assets.<\/p>\n
Das argues that the uncertainty threatens the UK\u2019s access to vital financial opportunities and its position as the world’s sixth-largest economy. He emphasizes that crypto could become the backbone of the next wave of financial services, but progress in regulation has stalled\u2014especially after political shifts and the recent snap election that brought in a new Labour government. While there is growing urgency and active lobbying from the industry for concrete legislation, crypto regulation remains a low priority in Westminster, despite competing economies moving ahead.<\/p>\n
The Financial Conduct Authority, tasked with overseeing crypto in the UK, has defended its cautious approach, stressing the importance of protecting consumers and referencing its refusal to grant approval to FTX, the failed crypto exchange. Regulators maintain that caution has helped the UK avoid major financial disasters, but industry voices like Das believe this stance risks stifling innovation and driving capital and talent abroad.<\/p>\n
Looking ahead, the UK government has indicated plans to consult on crypto regulation and stablecoins early next year, aiming to bring more clarity and confidence to the private sector. Nevertheless, the timeline and details remain uncertain, leaving businesses and advocates keen for decisive action to restore the country\u2019s edge in fintech and digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kraken\u2019s UK chief has criticized the government\u2019s slow approach to cryptocurrency regulation, warning that Bri […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4530","post","type-post","status-publish","format-standard","hentry","category-news"],"translation":{"provider":"WPGlobus","version":"3.0.0","language":"ja","enabled_languages":["en","de","ja","vi","ms"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"ja":{"title":false,"content":false,"excerpt":false},"vi":{"title":false,"content":false,"excerpt":false},"ms":{"title":false,"content":false,"excerpt":false}}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"tranhuynhmy@proton.me","author_link":"https:\/\/cryptoenewshub.com\/ja\/author\/tranhuynhmyproton-me\/"},"rttpg_comment":0,"rttpg_category":"News<\/a>","rttpg_excerpt":"Kraken\u2019s UK chief has criticized the government\u2019s slow …","_links":{"self":[{"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/posts\/4530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/comments?post=4530"}],"version-history":[{"count":1,"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/posts\/4530\/revisions"}],"predecessor-version":[{"id":4531,"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/posts\/4530\/revisions\/4531"}],"wp:attachment":[{"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/media?parent=4530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/categories?post=4530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoenewshub.com\/ja\/wp-json\/wp\/v2\/tags?post=4530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}