15th December 2025 > > The UK, Coinbase & Standard Chartered, & the US.
- Mark Timmis
- 10 hours ago
- 3 min read
tl;dr
The UK proves it does not want to participate in the crypto revolution. A UK bank proves that it does, alongside the US.
Market Snap
Market Wrap
We are in an extended period of sideways chop, with a bias to the downside, as market liquidity and risk appetite diminishes going into year-end.
Curious Crypto’s Commentary – The UK
The UK government has put forward legislation for the regulation of cryptos to be implemented by … late 2027.
Oh my. Chancellor Rachel Reeves accompanied the news with this extraordinary claim:
“Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age.”
Lucy Rigby, City minister, unintentionally continues the comedy double act:
“Firms have been very clear with us that they want this regulatory clarity because it will allow them to invest here”.
Yes, but do it yesterday, not in two years’ time. Where is any sense of urgency?
I have a simple piece of advice – copy and past the EU’s MiCA legislation and put it into practice today. We have done that with so much other regulation, why not for cryptos? If we are going to rejoin the EU, then at least let’s start with a voluntary and obvious win.
Curious Crypto’s Commentary – Coinbase & Standard Chartered
Whilst the UK deliberately drags its heels forgoing all those juicy crypto tax dollars that could be spent giving train drivers even more cash, British Bank Standard Chartered is forging its own crypto path outside of the UK:
The aim is to develop “trading, prime services, custody, staking and lending solutions for institutional clients” in conjunction with Coinbase, the leading crypto custody provider bar none.
This initiative is in response to client demand for safe and secure access to crypto markets for investment purposes. Brett Tejpaul, Co-CEO, Coinbase Institutional, explains:
“By leveraging Standard Chartered’s global banking expertise and Coinbase’s leadership in the digital asset space, we are creating a secure and seamless framework for institutions to access and manage digital assets with confidence. Together, we are driving the evolution of the financial ecosystem and enabling institutions to unlock new opportunities in this rapidly growing market.”
If you focus on the ever-growing infrastructure that will support and encourage the wholesale adoption of cryptos, short-term price movements present opportunities, not concerns.
Curious Crypto’s Commentary – The US
Meanwhile, the US drives forward in its goal to be the premier crypto country in the world.
We saw recently that the OCC (Office of the Comptroller of the Currency) – which is responsible for approving bank applications in the US – had publicly rejected the institutional bias against cryptos that had previously informed the regulator’s actions and decisions:
True to its word, on Friday we learnt that five crypto firms had gained approval to become banks: Ripple, Circle, BitGo, Fidelity Digital Asses, and Paxos:
Head of the OCC, Jonathan Gould, explains his enthusiasm for, and his approval of, these applications to become banks:
“New entrants into the federal banking sector are good for consumers, the banking industry and the economy. They provide access to new products, services and sources of credit to consumers, and ensure a dynamic, competitive and diverse banking system. The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy.”
I do wish Reeves and Rigby – or indeed, any other UK politician – would take note, but we know that aint gonna happen.
…
This is the kind of news that scares the pants off TradFi, which had fought a rearguard action in a forlorn attempt to protect their very own regulatory moat, a moat that exists not for the protection of consumers or of individual investors, but a moat that protects TradFi shareholders and TradFi executive pay packets above all else.
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