George Osborne, former UK Chancellor and current Coinbase adviser, argues in a recent Financial Times op-ed that the UK is lagging behind the cryptocurrency market, particularly in stablecoins. He expresses concern about the sluggish progress on stablecoins, claiming that innovations that could enhance the UK's position as a global financial hub have been neglected. Osborne emphasizes that the lack of action from the UK government risks the pound being sidelined in the growing stablecoin market, especially as the US moves forward with favorable legislation. His critique also targets current Chancellor Rachel Reeves for failing to advance bold stablecoin initiatives. The op-ed coincides with Coinbase's provocative advertising campaign addressing the UK's economic situation, suggesting cryptocurrency might offer solutions amidst current financial challenges. Coinbase CEO Brian Armstrong claims major UK television networks have blocked the ad, highlighting the company's aim to refocus its lobbying efforts on the UK market since entering in 2015.

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