Former UK Chancellor: UK has fallen behind in cryptocurrency field

According to a report by Golden Finance, former UK Chancellor of the Exchequer George Osborne has launched a fierce attack on the Labour government's approach to cryptocurrency, warning that the UK may miss out on a financial reform similar to the '1980s' and fall behind the trend. Osborne is now a member of the Global Advisory Committee of the US cryptocurrency exchange Coinbase, and he said that Chancellor of the Exchequer Reeves and Bank of England Governor Bailey are putting the UK on the slow lane. Osborne said, "Rachel Reeves is right, we have all become too risk averse. We have become the world's financial center because we are not afraid of change." "In cryptocurrencies and stablecoins, as in many other things, a cruel fact is that we have been completely left behind. It is time to catch up." Osborne said that accusing regulatory agencies of being overly cautious is an "untenable excuse," and Reeves should follow the example of the US Congress and legally establish a cryptocurrency framework. He warned that the United States, the European Union, Singapore, Abu Dhabi and other places are all ahead of the United Kingdom. (Financial Times)