Latest news with #Grose
Yahoo
2 days ago
- Business
- Yahoo
Why UK can leapfrog EU and US on crypto, according to Coinbase exec
More than two years after then-chancellor, and later UK prime minister, Rishi Sunak pledged to make the UK a "global crypto hub," the digital asset landscape has evolved rapidly. In an industry where two years can feel like a decade, has the UK managed to keep pace with global developments, or is it slipping behind? On the latest episode of Yahoo Finance Future Focus, Coinbase (COIN) UK's senior country director Keith Grose weighed in on the UK's crypto trajectory, and what the shift to a new Labour government could mean for the sector's future. 'Two years might be a long time in crypto,' Grose said, 'but that's not a long time in regulation world.' Despite the crypto industry's blistering pace, Grose said the UK is making meaningful progress. Just last week, the Financial Conduct Authority (FCA) released long-awaited draft rules on stablecoins, cryptoasset custody, and exchange operations, steps Grose sees as significant milestones toward making the UK crypto-friendly. 'The whole crypto regime is being put into force this year,' he explained. 'The FCA is really moving quickly to make this a friendly place for crypto. They're very growth-focused.' Read more: Crypto live prices This comes at a time when other major markets, particularly the US, are dramatically stepping up their crypto efforts. The US Congress is debating multiple bipartisan bills, including the Stablecoin Act and the FIT21 crypto framework, while president Donald Trump has floated the idea of a national digital asset reserve. Still, Grose believes the UK has a unique advantage. With the EU's MiCA regulation taking effect and the US experimenting with various policy directions, Britain has a "third-mover advantage." 'We get to look at what's happening in Europe and the US,' he said. 'If the FCA is smart about how they're regulating, we can leapfrog some of the challenges others are facing.' One of the most exciting developments, Grose said, is the UK's move to regulate stablecoins, which are increasingly seen as a foundational piece of future payment infrastructure. 'We haven't seen a pound-backed stablecoin at scale yet in the UK, but it's coming,' Grose said. 'And when it does, it's going to be very exciting.' According to Grose, both the FCA and the Bank of England are working on a regulatory framework to support stablecoins as legitimate payment rails, signalling a broader shift toward crypto being embedded into the mainstream financial system. This could also be a strategic response to developments across the Atlantic, where US states are beginning to adopt strategic reserves of bitcoin, and where the idea of a federal crypto strategy is now on the table. 'You have Trump releasing executive orders, Congress working on regulation, and both the SEC and CFTC taking action. That's the full force of government,' Grose said. 'I'd love to see something like that here in the UK.' With the Labour government now in power, there's hope that regulatory momentum will continue, or even accelerate. While Labour hasn't yet laid out a comprehensive crypto strategy, Grose is optimistic that the UK's institutional machinery is aligned for progress. The key, he suggested, will be ensuring that crypto is not siloed within just one regulatory body, but instead becomes a whole-of-government priority, as is increasingly the case in the US. 'I think there's a lot happening behind the scenes, at the policy level, industry level, to make Rishi's original vision a reality. We're not there yet, but we're well on the way.' Read more: 6 crypto developments in 2025 that will keep fuelling bitcoin's rally Grose revealed that Coinbase has ramped up its operations, receiving its VASP (Virtual Asset Service Provider) registration, a license that makes Coinbase the largest authorised crypto firm in the UK. 'We've brought all of our UK users back in-house,' Grose said. 'We're now servicing them directly from our UK entity and can run our own financial promotions.' And that means more visibility for Coinbase in the UK market. While Grose didn't give away all the details, he hinted that something big is coming in early July, and that Londoners should keep an eye out for Coinbase's next move. 'You'll see the Coinbase brand more,' he said. 'And you'll see a lot of new products coming out of the UK.' Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internetError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Why UK can leapfrog EU and US on crypto, according to Coinbase exec
More than two years after then-chancellor, and later UK prime minister, Rishi Sunak pledged to make the UK a "global crypto hub," the digital asset landscape has evolved rapidly. In an industry where two years can feel like a decade, has the UK managed to keep pace with global developments, or is it slipping behind? On the latest episode of Yahoo Finance Future Focus, Coinbase (COIN) UK's senior country director Keith Grose weighed in on the UK's crypto trajectory, and what the shift to a new Labour government could mean for the sector's future. 'Two years might be a long time in crypto,' Grose said, 'but that's not a long time in regulation world.' Despite the crypto industry's blistering pace, Grose said the UK is making meaningful progress. Just last week, the Financial Conduct Authority (FCA) released long-awaited draft rules on stablecoins, cryptoasset custody, and exchange operations, steps Grose sees as significant milestones toward making the UK crypto-friendly. 'The whole crypto regime is being put into force this year,' he explained. 'The FCA is really moving quickly to make this a friendly place for crypto. They're very growth-focused.' Read more: Crypto live prices This comes at a time when other major markets, particularly the US, are dramatically stepping up their crypto efforts. The US Congress is debating multiple bipartisan bills, including the Stablecoin Act and the FIT21 crypto framework, while president Donald Trump has floated the idea of a national digital asset reserve. Still, Grose believes the UK has a unique advantage. With the EU's MiCA regulation taking effect and the US experimenting with various policy directions, Britain has a "third-mover advantage." 'We get to look at what's happening in Europe and the US,' he said. 'If the FCA is smart about how they're regulating, we can leapfrog some of the challenges others are facing.' One of the most exciting developments, Grose said, is the UK's move to regulate stablecoins, which are increasingly seen as a foundational piece of future payment infrastructure. 'We haven't seen a pound-backed stablecoin at scale yet in the UK, but it's coming,' Grose said. 'And when it does, it's going to be very exciting.' According to Grose, both the FCA and the Bank of England are working on a regulatory framework to support stablecoins as legitimate payment rails, signalling a broader shift toward crypto being embedded into the mainstream financial system. This could also be a strategic response to developments across the Atlantic, where US states are beginning to adopt strategic reserves of bitcoin, and where the idea of a federal crypto strategy is now on the table. 'You have Trump releasing executive orders, Congress working on regulation, and both the SEC and CFTC taking action. That's the full force of government,' Grose said. 'I'd love to see something like that here in the UK.' With the Labour government now in power, there's hope that regulatory momentum will continue, or even accelerate. While Labour hasn't yet laid out a comprehensive crypto strategy, Grose is optimistic that the UK's institutional machinery is aligned for progress. The key, he suggested, will be ensuring that crypto is not siloed within just one regulatory body, but instead becomes a whole-of-government priority, as is increasingly the case in the US. 'I think there's a lot happening behind the scenes, at the policy level, industry level, to make Rishi's original vision a reality. We're not there yet, but we're well on the way.' Read more: 6 crypto developments in 2025 that will keep fuelling bitcoin's rally Grose revealed that Coinbase has ramped up its operations, receiving its VASP (Virtual Asset Service Provider) registration, a license that makes Coinbase the largest authorised crypto firm in the UK. 'We've brought all of our UK users back in-house,' Grose said. 'We're now servicing them directly from our UK entity and can run our own financial promotions.' And that means more visibility for Coinbase in the UK market. While Grose didn't give away all the details, he hinted that something big is coming in early July, and that Londoners should keep an eye out for Coinbase's next move. 'You'll see the Coinbase brand more,' he said. 'And you'll see a lot of new products coming out of the UK.' Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internet
BBC News
31-03-2025
- Business
- BBC News
Market Weighton dog groomer set to pursue dream after lottery win
A dog groomer says she will celebrate a lottery win by setting up her own Grose, 57, scooped an £87,400 share of a £3.2m Postcode Lottery prize won by people living in Walkington Drive, Market Weighton on leaving the street three months ago, Ms Grose still kept one of the tickets at her old postcode and became one of 16 said she plans to use some of her winnings to set up a dog grooming business from home. Ms Grose said: "I thought I'd leave this [postcode] for a year just in case."I started my business properly in January and there's a company down in Kent somewhere that does groom pods." She said the pods were housed in a portable building: "It's got everything in it fully equipped, washed down and everything and they just crane it into your drive."This will help me set it up from home now because I'm temporarily in kennels working there."Ms Grose's friend and former neighbour, Jean Phillips, 71, won £252,630 from the prize pot after playing with three tickets. They became friends when Ms Grose moved to the street eight years ago and bonded with Ms Phillips over her pet border collie, Grose left her job as an investment finance manager in June 2023 to pursue her passion for dogs, with Moss being used as her assessment dog during her various dog grooming Phillips said: "Gill has worked wonders with him. He was a blank page when I got him. And he is really well trained now."It is just wonderful to share this moment with Gill. She's great and I'm delighted for her too." Engaged couple Laura Horsley, 42, and Mark Cox, 56, each won £84,210, despite Ms Horsley admitting she had considered cancelling her said: "I did think about stopping. We'd not really won anything big. I'm so glad I didn't."Marie, 51, and husband Michael, 54, who moved into the street at the end of last year, also won £84, win came just a few weeks after Marie decided to update her address after winning £12 on her old postcode in to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
