tl;dr
Ripple urges the UK to quickly establish a comprehensive crypto regulatory framework to position London as the leading crypto hub in the West. At its UK Policy Summit, Ripple outlined four pillars for growth: a supportive regulatory environment, leadership in global standards, acceptance of overseas...
Ripple is urging the UK to swiftly establish a fast-tracked, growth-driven crypto regulatory framework to elevate London as a global blockchain and crypto powerhouse. At its UK Policy Summit, Ripple outlined four key pillars for growth: creating a supportive regulatory environment, taking leadership in global standards, formally adopting overseas stablecoins, and removing legal and tax barriers to asset tokenisation.
A notable emphasis was placed on accepting foreign-issued stablecoins such as USDC and USDT, which Ripple believes could provide the UK with a competitive edge over the EU's more restrictive MiCA framework. According to Ripple, embracing these stablecoins could recreate liquidity dynamics reminiscent of the historic Eurodollar boom, reinforcing London's position in global finance.
Ripple’s confidence in the UK's regulatory progress is evidenced by its recent $1.25 billion acquisition of London-based prime broker Hidden Road. The acquisition symbolizes the company’s strategic commitment to capitalizing on the UK’s shifting regulatory landscape, despite recent legal clarity opening opportunities in the US market as well.
Ripple’s Managing Director for the UK and Europe, Cassie Craddock, highlighted the enormous potential for the UK to become a globally competitive crypto market if regulators act decisively. This urgency is underscored by the fact that around 12% of UK adults, approximately 7 million people, currently hold cryptocurrency—a consumer base Ripple believes could grow significantly with clearer frameworks.
The company warns that delaying comprehensive crypto legislation and FCA guidance until 2026 risks ceding fintech innovation and market leadership to regions like the EU, Dubai, or Singapore. Ripple’s call to action is clear: by codifying a comprehensive and forward-looking crypto regime now, London can attract capital, users, and innovation, solidifying its place as the West’s premier crypto hub. Conversely, hesitation could trigger the migration of fintech talent and technologies to more welcoming jurisdictions.