The UK wants to be a Web3 powerhouse—but without taking its bowler hat off. The Treasury just dropped plans to revamp crypto regulations, claiming it's all about innovation and protection. How very British.
The kicker? They’re doing it while swapping notes with the US Treasury and its new crypto bestie, Scott Bessent.
Crypto Regulation, But Make It Polite
According to Chancellor of the Exchequer Rachel Reeves, the UK’s “Plan for Change” will make Britain “the best place in the world to innovate—and the safest place for consumers.” Tea, biscuits, and blockchain, anyone?
But here’s the rub: while Reeves is smiling for the cameras, the Treasury hasn’t stopped shaking its finger at the “bad actors.” It’s regulation with a side of suspicion—something that’s making parts of the crypto community choke on their crumpets.
Britain vs. America - Same Language, Different Playbook
Across the pond, the US is busy pivoting from “Operation Choke Point 2.0” to a more “kumbaya” approach. The SEC’s new Crypto Task Force is talking with founders (instead of suing them), and a real stablecoin framework is finally on the way.
The UK? Still skeptical of going full laissez-faire. While Reeves did sip some regulatory tea with Bessent and proposed a cross-border sandbox, the tone remains: “We want you here, but behave.”
Will Web3 Firms Buy It?
Not everyone’s buying the velvet-glove act. “Sad because it’s actually true. The UK can barely operate the basics, yet they want to lead the digital era? Delusional!” said The Crypto Professor on social media. Ouch.
Sad because its actually true.
— The Crypto Professor (@TheCryptoProfes) April 29, 2025
The UK can barely operate the basics, yet they want to lead the digital era? Delusional 😅 https://t.co/9EnMIO6Nvk
It’s no secret that past UK regulations pushed some crypto firms to pack their bags and leave. Overreach, red tape, and vague enforcement don’t exactly scream “Web3-friendly.”
Still, the Treasury promises to publish a concrete action plan by July. Until then, Britain’s fate in the crypto world teeters between reform and déjà vu.
Hope, Hype, or Hobble?
The UK might be looking to reinvent itself as a crypto-friendly jurisdiction. But unless it balances innovation with clarity—not just control—it risks turning the blockchain boom into a bureaucratic bust.
Anastasiia Gergun
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