출처: Block Media
UK’s Drive to Become a Global Digital Asset Hub Faces Critical Hurdles
The United Kingdom’s ambition to establish itself as a global leader in digital assets and decentralized finance (DeFi) is encountering major obstacles tied to sluggish policy-making and fragmented regulatory frameworks. Despite positioning itself as a dominant player in traditional finance, the UK's slow response to the rapidly evolving cryptocurrency and DeFi markets could result in it losing ground to more proactive competitors like the United States and Singapore, which are leveraging advanced regulatory environments to attract talent, capital, and innovation.
UK’s Vision Undermined by Regulatory and Policy Delays
While the UK aspires to transition its traditional financial leadership into the digital asset landscape, industry observers worry that its policies are not evolving quickly enough to align with market demands. Rapid strides in decentralized finance, blockchain innovations, and cryptocurrency ecosystems have defined the digital asset space globally, but the UK’s hesitation risks placing it at a disadvantage.
In contrast, countries such as Singapore and the U.S. are taking decisive regulatory actions: Singapore’s robust licensing schemes and regulatory sandboxes encourage entrepreneurship, while the U.S. is pushing forward with landmark legislative proposals like the GENIUS Act and the CLARITY Act. By comparison, the UK risks being perceived as cumbersome and unwelcoming by capital investors and emerging talent.
FCA’s Push for Clarity: A Balancing Act for Startups
The Financial Conduct Authority (FCA) has made strides to bring more structure and predictability to the UK's digital asset ecosystem. Through targeted initiatives like industry consultations, roundtable discussions, and strategic roadmaps, the FCA is working toward enhancing transparency for market participants. These measures signal the UK’s commitment to fostering a responsible and stable market environment.
However, not all stakeholders are convinced. Startups and smaller players in the ecosystem argue that FCA’s measures impose overly burdensome compliance requirements that create barriers to entry. Compared to large corporations that have the resources to navigate stringent regulations, startups may find the UK an inhospitable market to launch their operations, a scenario that could stifle grassroots innovation and diversification within the ecosystem.
Government’s Draft SI Draws Industry Scrutiny
The UK government's recent introduction of a draft statutory instrument (Draft SI) outlining regulatory standards for digital assets underscores its intent to formalize the space. Unfortunately, this progress has been overshadowed by criticism of the document’s lack of clarity on critical issues.
Key frustrations from industry participants center on delays in approving cryptocurrency exchange-traded funds (ETFs), ambiguous definitions of DeFi applications, and overly complex reporting requirements. Similarly, HM Revenue and Customs (HMRC)’s push for mandatory automated tax reporting has sparked further concerns. Industry advocates warn that these measures could drive investors and innovators to more tax-friendly jurisdictions, weakening the UK’s competitive edge.
Global Leaders in Policy Innovation: EU, U.S., and Singapore
Meanwhile, global competitors are carving out distinct advantages through advanced regulatory frameworks. The European Union’s Markets in Crypto-Assets (MiCA) regulatory model is praised for providing consistency and clarity, while Singapore’s licensing regimes and regulatory sandbox programs offer businesses flexibility to test innovative solutions without facing legal uncertainties.
In the United States, legislators are advancing measures to reduce ambiguity and foster innovation. Proposals like the GENIUS Act and preparations for the CLARITY Act signal the U.S.’s intention to establish secure and progressive oversight for decentralized finance and blockchain-based solutions.
These efforts highlight a critical takeaway: competitors are establishing clear, innovative, and business-friendly policies faster than the UK, making the global landscape highly competitive. Analysts note that while it is not too late, the UK must act urgently and decisively to bridge the gap or risk losing out in this high-stakes race.
Industry Insiders: A Call for Bold, Unified Action
The digital asset industry’s future in the UK depends on proactive government intervention and streamlined collaboration between regulators, businesses, and innovators. Industry leaders emphasize that the UK must adopt more agile frameworks and prioritize clarity across its policies to compete with jurisdictions like Singapore, the EU, and the U.S.
Critics argue that hesitation is no longer an option. Only swift execution and a bolder, unified approach will enable the UK to position itself at the forefront of the digital asset revolution. Without immediate action, experts caution that the UK risks being overshadowed in the increasingly competitive and rapidly evolving global digital asset market.
In conclusion, the United Kingdom has an opportunity to rise as a global digital asset hub but must overcome internal policy bottlenecks and regulatory fragmentation. By embracing innovation, regulatory reform, and strategic collaboration, the UK can turn ambition into tangible results and secure its place as a leader in this transformative sector.
