UK Crypto Hub Ambitions Slow as Regulatory Resources Diverted, Says Former FCA Official

According to CoinDesk, on June 24, former UK Financial Conduct Authority (FCA) official Isadora Arredondo stated that Britain's progress toward becoming a "global crypto hub" has slowed due to regulatory resources being diverted by Brexit, pandemic response, and multiple financial scandals. Arredondo, now Vice President of Global Policy at Hedera, noted that while UK institutions and wholesale markets actively explore tokenization through projects like digital securities sandboxes, startups and consumer-facing crypto businesses remain subject to outdated regulatory frameworks requiring lengthy and complex approval processes.

Unlike the European Union's MiCA framework, the UK lacks dedicated rules for these segments, creating a gap between crypto policy ambitions and regulatory practice.