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Coinbase CEO Brian Armstrong Pushes UK to Fast-Track Crypto Regulation

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Updated by Ann Maria Shibu
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In Brief

  • Coinbase CEO Brian Armstrong urges UK policymakers to fast-track crypto regulations, positioning the country as a potential crypto hub on par with the US.
  • Armstrong’s meetings align with UK’s release of draft crypto asset legislation, aiming for full implementation by 2026, focusing on tax transparency and oversight.
  • Despite positive steps, concerns persist about slow licensing and policy uncertainty, with some fearing UK crypto startups may relocate to more favorable environments.
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Coinbase CEO Brian Armstrong is ramping up efforts to bolster the United Kingdom’s position in the crypto hub, potentially putting the UK on par with the US.

Meanwhile, the UK has been taking strides to adopt friendlier crypto regulations, after past overreach and regulatory challenges.

Brian Armstrong Meets UK Officials as Crypto Regulation Enters Critical Phase

The Coinbase executive revealed holding high-level talks with policymakers in London amid a transformative moment for digital asset regulation in the country.

Armstrong’s visit highlights the Coinbase exchange’s strategic pivot toward markets that show openness to crypto innovation.

His meetings follow the UK government’s release of draft legislation for a comprehensive crypto asset regime, which aims for full implementation by 2026.

The upcoming rules are designed to align with the OECD’s Cryptoasset Reporting Framework. It emphasizes tax transparency and stringent oversight of digital asset activities.

Tom Duff Gordon, VP of International Policy at Coinbase, is playing a central role in guiding UK crypto policy. With a background that bridges traditional finance (TradFi) and Web3, Gordon has become a key figure shaping the nation’s regulatory posture.

His efforts dovetail with those of other industry leaders, like Ripple, which recently urged UK authorities to accelerate crypto legislation before a “window of opportunity” closes.

The UK FCA (Financial Conduct Authority) is concurrently refining rules around stablecoins and crypto custody. An industry consultation on these topics just concluded on June 13. Additional feedback on staking, lending, and DeFi is being sought.

This signals a comprehensive approach to digital tokens and the broader crypto economy, with the UK government insisting its approach will combine innovation and consumer protection.

“Through our Plan for Change, we are making Britain the best place in the world to innovate — and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of Fintech and protect people across the UK,” Chancellor of the Exchequer Rachel Reeves stated in April.

From Draft Rules to Global Race — Can the UK Seize the Crypto Moment?

Still, challenges persist. A survey of 150 crypto and finance professionals found that only 15% believe the UK is on the right track.

Meanwhile, 50% see potential for the UK to become a global crypto hub, and only 9% of firms surveyed say they are fully prepared for the incoming regime.

Poll on whether the UK is getting crypto regulation right
Poll on whether the UK is getting crypto regulation right. Source: Clear Junction

Notably, the UK’s regulatory shift arrives during a global crypto resurgence. While pursuing a distinct path from the EU’s MiCA framework, the UK is positioning itself with flexible advantages.

It has not proposed stablecoin volume caps and may permit foreign stablecoins to operate without local registration.

More closely, the FCA’s recent proposal to lift the retail ban on crypto exchange-traded notes (ETNs) further signals a maturing stance.

“This is huge – a big moment for the UK and crypto policy. Yet another country poised to lead on digital assets. Bravo FCA,” Coinbase CLO Paul Grewal commented in June.

Meanwhile, IG Group’s move to allow retail crypto trading hints at rising institutional and retail confidence.

Despite optimism, Brian Armstrong and others have warned that slow licensing, funding hurdles, and policy ambiguity could force UK-based startups to relocate to more favorable environments like the EU, Singapore, or the US.

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Lockridge Okoth
Lockridge Okoth is a Journalist at BeInCrypto, focusing on prominent industry companies such as Coinbase, Binance, and Tether. He covers a wide range of topics, including regulatory developments in decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), real-world assets (RWA), GameFi, and cryptocurrencies. Previously, Lockridge conducted market analysis and technical assessments of digital assets, including Bitcoin and altcoins such as Arbitrum, Polkadot, and...
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