23rd September 2025 > > The US, the UK, & LINK.

tl;dr

Is the UK about to get serious about cryptos and all those lovely tax dollars on offer to fritter away? Another look at our perennial favourite, LINK.

Market Snap

Market Wrap

An aggressive flushing out of leveraged longs saw some coins such as DOGE and AAVE down 10% on the day, triggering further buys for the CC Treasury. It’s nice to have a bit of volatility back, hurting the leveraged children, and benefitting real investors who employ the tried and tested technique of DCA.

Long may this continue.

Curious Cryptos’ meme corner

h/t – Dr. Chloe

Curious Cryptos’ Commentary – The US and the UK

The US and the UK have launched a joint task force with the objective of developing policy for the crypto industry. Key members include U.S. Treasury Secretary Scott Bessent and UK Chancellor of the Exchequer Rachel Reeves, when she takes time off from editing her online CV.

I admit I am rather surprised by this news, given the UK’s long-standing antagonism towards cryptos, initially incubated by Rishi Sunak when he was Chancellor. Sunak made the cowardly decision that handing out free cash was a much easier, and a far more popular, task than putting in the hard yards of improving the UK’s dire productivity problems. We suffer from his short-sightedness today and will continue to do so far into the future.

You can read the press release here:

https://home.treasury.gov/news/press-releases/sb0256

Remarkably this taskforce will produce a report in the astonishingly short (for bureaucrats anyway) timescale of six months. It is likely to be light on detail, or even of any real content, unless Reeves ditches the Treasury’s current stance to go all in on cryptos like the Americans.

Go on Rachel, you can do it.

…

My first suggestion is that the UK drops its long-standing rejection of all US spot ETFs, cryptos included. The US has the strictest securities laws in the world, with painfully long prison sentences for those convicted of transgressing those laws, allied with the deepest and most liquid capital markets to be found anywhere on the planet.

It won’t happen of course, simply because it is very much the right thing to do.

Curious Cryptos’ Commentary – Chainlink

Fresh from penning a deal with the U.S. Department of Commerce to begin putting economic data onto the blockchain (PYTH is also involved, at a fraction of the market cap of LINK), Chainlink co-founder Sergey Nazarov claims that the company is in talks with several other government agencies with the aim of bringing more activity on chain:

“All of these agencies and departments have their own processes, which is unpredictable for approvals. I can tell you we're definitely moving ahead into a set of next steps, at least on the data side, and on some different cross-chain initiatives that we're also starting to discuss more.”

One of Sergey’s personal goals is to bring elections to the blockchain, providing irrefutable proof of people’s voting intentions, a subject clearly close to the heart of the current administration, rightly or wrongly.

This initiative also touches on the thorny issue of identification cards, a topic gaining traction within the UK. The libertarian in me baulks at the idea that we must carry id with us. The realist (cynic?) in me knows for sure that the government of the UK is literally incapable of building an IT system anywhere near budget or on time, and that it will be riddled with security flaws leading to an explosion in online fraud, at our expense.

Which means that id cards will happen, simply because it is very much the wrong thing to do.a harbinger of the future, and not some political stunt, we will all rest more easily at night.