UK's crypto hub dream is stalling — regulatory infighting is sending firms and capital elsewhere!

The UK's ambition to become a global digital asset hub is being undermined by a three-way institutional deadlock between HM Treasury, the Bank of England and the FCA, according to industry figures speaking at the Digital Money Summit 2026 in London. Blockchain researcher Jonny Fry put it plainly: "The real risk is not that firms physically leave Britain — the risk is that the next generation of digital asset infrastructure is built somewhere else."

The fragmented approach to stablecoins, a potential digital pound and tokenized deposits is already costing the UK in concrete terms. Fry cited Deribit's relocation as a case study, estimating the missed tax revenue from Coinbase's subsequent acquisition of the platform ran into the hundreds of millions of pounds. Agant CEO Andrew MacKenzie echoed the concern, saying regulations are moving in the right direction but far too slowly to support…