Brian Armstrong calls on UK to regulate crypto

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Brian Armstrong calls on UK to regulate crypto

High-level talks and strategic partnerships

During his visit, Armstrong held discussions with UK officials about the country’s evolving crypto framework. These meetings come on the heels of the UK Treasury’s draft legislation aiming to establish a robust crypto asset regime by 2026. The proposed laws are set to align with the OECD’s Cryptoasset Reporting Framework, focusing on tax compliance and risk oversight. Coinbase’s VP of International Policy, Tom Duff Gordon, is playing a pivotal role in shaping these discussions, leveraging his experience in both TradFi and crypto to bridge the policy gap.

Armstrong’s outreach mirrors efforts by other industry giants like Ripple, which recently warned UK regulators of a shrinking “window of opportunity” to lead on crypto policy. The Financial Conduct Authority (FCA) is already working on detailed rules for stablecoins, custody services, staking, and DeFi — a clear sign of the UK’s commitment to comprehensive crypto oversight.

UK aims to balance innovation and consumer protection

In a public statement, Chancellor of the Exchequer Rachel Reeves emphasized the dual goals of fostering innovation while protecting consumers:

“Through our Plan for Change, we are making Britain the best place in the world to innovate — and the safest place for consumers.”

While regulatory clarity is improving, challenges remain. A recent industry survey revealed that just 15% of crypto and finance professionals believe the UK is currently on the right regulatory path. However, 50% see significant potential for the country to become a global crypto hub — especially as it develops rules distinct from the EU’s MiCA framework, including flexible approaches to stablecoin oversight and crypto exchange-traded notes (ETNs).

Cautious optimism amid a global crypto resurgence

Coinbase’s Chief Legal Officer Paul Grewal called the FCA’s openness to lifting its ban on crypto ETNs a “big moment” for UK crypto policy. Institutional activity is also picking up, with IG Group recently allowing retail crypto trading — a move signaling renewed investor confidence.

Despite these advancements, Armstrong and others have warned that bureaucratic delays and inconsistent funding could drive UK startups to jurisdictions with more favorable crypto climates, such as Singapore or the United States. The UK’s ability to streamline its regulatory rollout over the next 12–18 months could determine whether it becomes a true leader or lags behind in the ongoing global race for crypto dominance.

Recently we wrote that Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), has signaled willingness to advise Pakistan on its national crypto strategy, following a high-level meeting with Finance Minister Muhammad Aurangzeb and Minister of Blockchain and Crypto Affairs Bilal Bin Saqib.

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