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The Bank's crypto caution is holding Britain back
The Observer
|September 21, 2025
Stablecoins, a form of digital currency pegged to an existing local currency, are the big winner from the recent boom in crypto.
Globally, the number of stablecoins has risen from one to 176 since 2014, and they are now worth a combined $280bn. Coinbase forecasts that this could grow to $1.2tn by 2028. Most stablecoins are based in the US, where the Trump administration is a cheerleader. Britain, despite its public ambition to be a hub of global crypto innovation and trading, is not yet a meaningful player. The British crypto industry blames this on the failure to put in place a viable regulatory framework - and fears ar
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