The UK talks about becoming a global digital asset hub while bitcoin businesses continue scaling elsewhere. Gemini’s departure reflects structural reality, not execution friction.

The problem is structural misunderstanding rather than regulatory speed.

By categorising everything as “crypto” under a same risk same regulation framework, UK policy fails to distinguish bitcoin companies from token based ventures. These models differ materially.
Many bitcoin businesses:

* Operate long-term treasury strategies
* Hold reserves in bitcoin
* Rely less on cyclical fundraising
* Maintain globally portable capital

This changes their cost of capital, risk profile, and sensitivity to jurisdiction.
When compliance burdens are high relative to opportunity, and regulatory transition remains uncertain, mobile capital reallocates.

As global institutions increasingly treat bitcoin as infrastructure rather than speculation, mispricing this distinction risks weakening the UK’s competitive position. 
The question is no longer whether bitcoin businesses will adapt.

It is whether policymakers will engage with the structural shift underway.

From 26 - 29 March 2026, CheatCode Conference returns under the theme “The Great Realignment,” examining how bitcoin is reshaping capital markets, energy systems, and business models.
Susie Violet Ward will be speaking on these themes and the widening gap between bitcoin business models and legacy regulatory assumptions. Readers can receive an exclusive 20% discount on tickets using code BTCPOLICY on the CheatCode website.

Read the full article here:

https://bitcoinpolicy.uk/blog-1/f/why-the-uk-keeps-misunderstanding-bitcoin-businesses

@Susie Violet @fnew @Peter McCormack

In this episode of ‘On The Record’, we present an audio version of Bitcoin Policy UK’s response to the FCA’s Consultation Paper CP25/40 on regulating cryptoasset activities (submitted 29 Jan 2026).

BPUK’s submission stresses a vital distinction: Bitcoin is not interchangeable with issuer-driven “cryptoassets.”

https://fountain.fm/episode/jyZRlVKUMbYORmCxs0T7

@Susie Violet
@fnew

We’ve submitted our response to the FCA’s crypto consultation (CP25/40).

Crypto is not one thing. A meme coin is not an NFT, or a stablecoin or Bitcoin. Treating them all the same leads to bad regulation, higher consumer harm, and lost UK competitiveness.

Regulate intermediaries with custody and control,  not open-source infrastructure.

Bitcoin is issuer-less, globally liquid, and fundamentally different. UK regulation must reflect that reality.

Learn more here:

https://bitcoinpolicy.uk/blog-1/f/why-the-fca%E2%80%99s-crypto-framework-risks-failing-consumers-and-the-uk

@Susie Violet
@fnew

“Same risk, same regulation only works if you understand the risk.”

A thoughtful discussion at the London Business School on whether the UK’s approach to digital assets is helping or hindering its ability to compete for capital and talent.

Bitcoin ≠ “crypto” and regulation should reflect that.

Treating all digital assets as one category flattens real differences in risk, governance, and structure. A decentralised monetary network is not the same as an issuer-led token.

Good regulation starts with accurate classification.

Read more here:

https://bitcoinpolicy.uk/blog-1/f/why-bitcoin-shouldnt-be-regulated-like-crypto

@Susie Violet
@fnew

Bitcoin Policy UK is entering a consolidation phase.

After three years of evidence-based Bitcoin policy engagement, BPUK will scale back to a maintenance only core due to a lack of sustainable industry funding.

Our mission remains unchanged, and our work will stay publicly available.

Read the full statement:

https://bitcoinpolicy.uk/blog-1/f/bitcoin-policy-uk-enters-consolidation-phase

Bitcoin Policy UK is entering a consolidation phase.

This means scaling back to a minimal, maintenance-only operation, keeping our research, website, and communications active, to ensure continuity of our work supporting evidence-based Bitcoin policy in the UK.

Our mission hasn’t changed. This is about sustainability, responsibility, and preserving what’s been built so far.

Thank you to everyone who has supported BPUK along the way.

Read our CEO statement here: https://tinyurl.com/4h5vfz86

Have you subscribed to our podcast yet?

“On the Record” is available wherever you get your content.

Follow us on @Fountain here:

https://fountain.fm/show/BjN75IqanE2DpwJUxG76

In our latest episode, we present an audio version of Bitcoin Policy UK's response to the Bank of England and HM Treasury on the Digital Pound, originally published on 31 May 2023.

This paper sets out why a retail CBDC represents a fundamental shift in the relationship between citizens and the state, raising serious concerns around privacy, financial surveillance, programmability, and democratic oversight.

Our CEO @Susie Violet will be speaking on the regulation panel at the London Blockchain Summit 2026! 

Panel: "Can the UK Still Win? Regulation, Capital, and the Reality of Competing as a Blockchain Hub"

We will discuss UK competitiveness vs. global peers, regulatory frictions pushing firms offshore, capital deployment blockers for institutions, and the key policy levers needed to make the UK an innovation hub. 

Come along if you're in London.

Tickets:

https://clubs.london.edu/Blockchain/rsvp_boot

The UK is wasting billions curtailing renewable energy, paying wind farms to switch off while burning fossil fuels to balance the grid.

Bitcoin mining is the only flexible, scalable “buyer of last resort” that can absorb surplus renewables instantly and stabilise the grid.

If the UK wants a real green transition, it can’t ignore Bitcoin mining. 

Read more here:

https://bitcoinpolicy.uk/blog-1/f/why-the-uk-cannot-have-a-green-energy-transition-without-bitcoin

@Susie Violet
@fnew

Shaping Bitcoin’s Future in the UK: Our Policy Goals for 2026

Bitcoin has reached a turning point in the UK. With formal recognition as property now in place, 2026 will be a defining year for how Bitcoin is treated by policymakers, regulators, and institutions.

At Bitcoin Policy UK, our goals for the year ahead include advancing key policy reforms, launching a Tax Working Group, and demonstrating sustainable mining innovations in the UK.

This work is only possible with community support. If you believe the UK should be a place where Bitcoin can thrive responsibly, we invite you to read our full 2026 goals and consider supporting our mission:

https://bitcoinpolicy.uk/blog-1/f/shaping-bitcoins-future-in-the-uk-our-policy-goals-for-2026

@Susie Violet @fnew

On 3 January 2009, the Bitcoin network launched with the mining of its first block, known as the Genesis Block.

Embedded in that block was a headline from The Times newspaper:

“Chancellor on brink of second bailout for banks.”

The message permanently anchors Bitcoin’s origin to the global financial crisis and the policy responses of that period.

Seventeen years on, it still operates under the same core rules.

Happy Genesis Day.