Oh, what a glorious day it is in the UK, where the crypto regulations are so tight, they could choke a dragon! 🐉💸 Kraken’s co-CEO, Arjun Sethi, took a stand, declaring the UK’s rules are like a straitjacket for innovation, leaving users gasping for breath. 🥵💫
Speaking to the Financial Times, Sethi spilled the beans: the UK’s regulatory overreach is so severe, users are locked out of 75% of crypto products. DeFi staking and lending? Gone. Like a magician’s trick, but without the magic. 🪄🚫
“Users Are Locked Out of Innovation,” Says Sethi 🤡
Sethi’s heart aches for UK users, who now face a digital desert. The FCA’s new rules have driven major crypto firms to retreat, like crabs scurrying back to the sea. 🦀🌊
“Locked out of innovation?” Sethi scoffs. “More like locked in a vault with no key!” 🗝️💣 The UK’s policies are so restrictive, even the most basic crypto tools are now a luxury. 🏛️💸
He added, “If users can’t access the goods, the UK will be left in the dust, while the rest of the world dances in the spotlight. 🌟💃”
“The UK risks falling behind in global digital finance,” he warned, as if the sky were falling. 🌩️📉
Kraken Rejects Tokenized Stocks: “A Terrible Idea” 😤
Sethi turned his gaze to tokenized real-world assets (RWAs), calling them “digital ghosts of traditional assets.” 🕸️👻 He slammed Robinhood’s tokenized OpenAI shares as “a terrible idea,” comparing them to a house of cards in a hurricane. 🌪️🃏
“Tokenizing private equity? A recipe for disaster!” he roared. “Investors might think they’re buying a slice of the pie, but it’s more like a mirage in the desert. 🌵💸”
UK’s Crypto Future at a Crossroads 🚧
As the world races ahead, the UK’s crypto future hangs in the balance. Will it embrace innovation or cling to its ironclad rules? 🤷♂️🌀
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FAQs 🤔
Which crypto products are most affected by UK restrictions? 🐙
DeFi staking and lending – key ways to earn yield – are heavily restricted for retail investors under current FCA rules. 🎯✨
How do UK crypto rules compare to other markets? 🌍
Sethi notes that the U.S., Singapore, and the EU offer broader access to crypto tools, helping them stay ahead in digital finance. 🏁🚀
What is the UK’s crypto adoption rate in 2025? 📊
The UK has over 23 million crypto users, with a 35.12% adoption rate, leading Europe in crypto engagement. 🇬🇧📈
What is the UK tax on crypto? 💰
Capital gains tax applies at 18%-24%, while income tax (0%-45%) applies to mining, staking, and crypto earnings over £12,570. 📉📉
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2025-11-12 10:42