[Former UK FCA Policy Official: 'Significant Gap' Between Crypto Ambitions and Regulatory Practices] According to a report by CoinDesk, Isadora Arredondo, former UK Financial Conduct Authority (FCA) official and current Vice President of Global Policy at Hedera, stated that the UK's progress in building a 'global crypto hub' has slowed down. This is primarily due to regulatory resources being diverted to Brexit, pandemic responses, and multiple financial scandals, causing crypto to shift from a priority to a peripheral issue. She noted that while the UK is actively exploring tokenization in institutional and wholesale markets through initiatives like the digital securities sandbox, it still relies on outdated regulatory frameworks for approving crypto businesses targeting startups and retail users. The process is lengthy and complex, lacking dedicated rules similar to the EU's MiCA framework.