US Leads Crypto Push as Britain Gets ‘Battered and Bruised’
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Key Takeaways
- Xen Baynham-Herd, Head of Global Builders at Base, stated that he has seen no signs of frustration among developers building on Coinbase’s layer-2 network.
- Ethereum core developer Péter Szilágyi accused the Ethereum Foundation of being controlled by a “ruling elite.”
- Baynham-Herd attributed Base’s positive developer culture to its commercial framework under Coinbase.
The U.S. is pulling ahead of Britain in the race to shape the future of crypto, according to Mohamed Ezeldin, Head of Tokenomics at Animoca Brands.
Ezeldin said that the U.K.’s ambitions to become a global leader in emerging tech are being undercut by policy inaction, taxes, and political turmoil.
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“The U.S. Is in a Much Better Position”
Ezeldin said the U.S. is moving more confidently toward crypto adoption, even if regulation still lags behind.
“We’ve seen a President who is very controversial but also very stubborn in his ways,” he said.
“When he says something, he will deliver, or deliver close enough to what he’s promised, for better or worse.”
“Part of his mandate is crypto,” Ezeldin continued, referencing the launch of Trump’s token and World Liberty Finance.
“So the U.S. is actually in a much better position as of today for crypto, even though regulation is still lagging behind.”
Ezeldin acknowledged that American leadership in crypto has not always been smooth, but said it remains unmatched in its global influence.
“The U.S. has always been a leader in this space, again, for better or worse,” he said.
He contrasted that with Britain’s faltering position.
“We’re not faring too well as the U.K. right now,” Ezeldin said. “We’re getting battered and bruised, absolutely, for sure.”
A Compound of U.K. Problems
“The U.K. says it wants to be a leader in emerging technologies,” Ezeldin told CCN during an interview at the Zebu Live conference in London.
“But realistically, no steps have been made to alleviate any of the pain points,” he stressed.
He said that while government ministers continue to promote Britain as a crypto hub, on-the-ground realities tell a different story.
“Some of the pain points — tax is a big issue,” he said. “A lot of founders are leaving the U.K., moving to Dubai and Lisbon for tax breaks.”
Ezeldin added that the political instability of recent years, with frequent leadership changes and economic uncertainty, has compounded the problem.
“The instability within the U.K. government right now is not a beacon of success,” he said.
“‘Come to the U.K., we’re in a solid phase of growth,’ that’s not been the case.”
His comments come amid Britain’s push to rebrand itself as a crypto hub, an effort spearheaded by former Prime Minister Rishi Sunak, who said he wanted to make the U.K. “a global hub for crypto technology.”
Since then, the government has promised to introduce stablecoin legislation , explore a digital pound , and attract blockchain-based investment, but progress has been extremely slow.
Animoca’s Global Outlook
Despite the uneven regulatory landscape, Ezeldin said Animoca Brands continues to expand globally, working with major institutions on blockchain infrastructure projects.
The Hong Kong-based company, which started in gaming, has grown into an ecosystem builder with more than 600 investments across the Web3 space.
“We’re focused on digital property rights and true ownership of assets,” Ezeldin said.
“Our approach has always been about adding value to the ecosystem, not extracting it.”
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