- UK falls behind on stablecoins, says Coinbase adviser George Osborne.
- Crypto funds lose $223M, ending 15-week inflow streak.
- US CFTC starts “crypto sprint” to boost digital asset leadership.
Crypto News Roundup: UK Behind on Stablecoins, Funds Experience Outflows, and US Regulators Act
Today’s crypto news is significant. George Osborne, a former UK chancellor and Coinbase adviser, cautioned that the UK is lagging in the digital asset space, particularly with respect to stablecoins.
In a Financial Times op-ed, he said stablecoins could boost the UK’s role in global finance, but slow progress is holding it back. Coinbase also released a musical ad criticizing the UK’s economic struggles.
Meanwhile, crypto investment products faced $223 million in outflows last week, ending a 15-week streak of gains, according to CoinShares. The shift came after a US Federal Reserve meeting where Chair Jerome Powell’s comments lowered hopes for a September interest rate cut, impacting investor confidence.
In the US, the Commodity Futures Trading Commission (CFTC) launched a “crypto sprint” to act on a White House report about digital assets.
CFTC Acting Chair Caroline Pham said they’re working with the Securities and Exchange Commission to make the US a global crypto leader.
These moves show how governments and markets are navigating the fast-changing crypto world, with some racing ahead and others struggling to keep up.
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