Outside Prime Minister’s office, Armstrong expressed optimism as UK aims to enhance crypto regulation with new guidelines.
Coinbase CEO Brian Armstrong recently met with senior policymakers in the United Kingdom to support the country’s ongoing efforts to shape clear crypto regulations.
In a June 16 post on X, Armstrong revealed he had been in London, pictured outside Downing Street, for discussions focused on positioning the UK as a leading crypto hub.
“This is a pivotal moment – hopeful the UK seizes this opportunity to solidify its position as a global leader in crypto. Bullish on Britain.”
Coinbase’s engagement highlights the firm’s continued push to shape crypto regulation outside the United States. The UK, viewed as a more open and forward-thinking market, has emerged as a strategic focus for global crypto players.
Notably, Coinbase recently obtained registration as a Virtual Asset Service Provider (VASP) in the UK, marking a significant milestone in its expansion. The license places the exchange among the country’s top officially recognized crypto service providers.
UK’s crypto rule
Coinbase’s meeting with the UK authorities comes as the government is stepping up efforts to bring structure to its crypto regulatory landscape.
A recent Financial Conduct Authority (FCA) study shows that around 12% of UK adults hold crypto. This growing adoption has prompted policymakers to draft legislation to tighten control and ensure transparency in the emerging industry.
UK authorities published draft rules in May to build a comprehensive oversight framework.
One of these regulations, expected to take effect by 2026, will require crypto service providers to collect and submit key user and transaction data. The goal is to share this information with His Majesty’s Revenue and Customs (HMRC) to ensure greater tax compliance and oversight.
Policymakers argue that these changes are essential to promote trust, protect users, and attract crypto businesses seeking clarity on the jurisdiction.
Oluwapelumi Adejumo Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Liam ‘Akiba’ Wright Also known as “Akiba,” Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the potential to make widespread positive change.
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