The UK has decided to open a discussion on Stablecoins in 2025 by publishing nearly 250 pages of consultation paper in 2025.
If Japan fails to pass the Stubcoin Act in 2022, or if Singapore passes Singapore in 2023 or Abu Dhabi in 2024, or if the US Congress and President Trump only approve of the genius that provides a central location for American financial infrastructure, that would not be so embarrassing.
But here is the UK (great deal with global economics and financial markets) still writing a report. At this point, we are not late. It’s completely out of the race. Others have written actual laws, but the UK government is still in the brainstorming phase.
What’s even worse is probably just how important low-cost good regulations are. No taxpayer funds, big investments, or bloated programs are required. Smart regulation is expensive and brings it all. Innovation, capital, work. The UK missed this train many years ago.
The UK couldn’t act, but others built their infrastructure
After Brexit, the city of London was no longer tied to Brussels, so there was an unusual opening. So it seemed all this stage was set up to make the UK become a global centre for crypto. And Rishi Snack, a former finance man who was then prime minister, knew the interests.
But as always, knowing something in the government doesn’t mean it will be done. He was overloaded and no one else was taken away from the wheels, so of course nothing happened.
Meanwhile, the USDC circle was released just a month ago. The market capitalization is already over $50 billion. US investors now treat Stablecoins as all the base currency built on the blockchain. This is nothing new.
In 2021, hedge fund Marshall Wayce arranged a private dinner with circle CEO Jeremy Allerle and two UK regulators. Jeremy laid out the case of stablecoins that drives the next era of financial technology. One British official left the meeting and is said to be called “a bundle of libertarians.”
First of all, it was unnecessary rude. But it also revealed a system of laughing at innovation while other parts of the world are busy adopting it. Singapore and Abu Dhabi didn’t find the cipher brothers funny or disliked.
They moved quickly, seeing what the code would turn out. In contrast, the UK continues to treat things that were not created by its own bureaucracy as questionable. It doesn’t help that current economic strategies are based on more public spending and higher taxes.
Prime Minister Rachel Reeves may have spoken about encouraging risk in her mansion speech, but her policies are fixed in the idea of “stability.” She is surrounded by a layer of government with no clue as to how to build a real technological economy.
Crossing the Atlantic, her US counterpart, Scott Becent, actually gets it. He has been on the market for decades. The man actually grew up on Wall Street. He knows what works: cheap energy, free markets, innovation. He is called Crypto. “It’s one of the most important phenomena in the world right now.”
Scott believes Stablecoins will become the main currency of the blockchain, and sees them as tools to extend their dominance of the dollar. Every time someone uses USDC to purchase a Treasury bill, they effectively support the US economy. He gets it and that’s what real leadership looks like.
Meanwhile, the EU and China are all-in with central bank digital currencies. These are coins that are directly tied to government accounts. They allow the state to track all payments, suspend transactions, and freeze accounts. Basically, it’s total control. The Stablecoin model is the opposite of that, as it is created by private companies. It is held by the user. It is not subject to bureaucratic chokeholds.
One system is about control. The other thing is about freedom. And the UK has not yet chosen it. If you’re lucky, before the end of the year, Brussels may finally understand what a good policy-making actually looks like.
