UK blockchain industry says regulator infighting hurts 'crypto hub' goal

Figures in the UK blockchain industry have warned that infighting among regulators is undermining efforts to establish the country as a "crypto hub." In an interview with CoinDesk, Jonny Fry, CEO of British crypto research firm TeamBlockchain, explained that the Treasury is focused on passing regulatory legislation, the Financial Conduct Authority (FCA) on the public issuance of stablecoins, and the Bank of England on introducing a digital pound. He noted that their differing powers and approaches are creating policy uncertainty and administrative friction. This has led blockchain companies to leave the UK, with Fry citing the departure of Deribit, the world's largest crypto options exchange, as a key example.