英国对比特币的立场正在破坏其作为全球金融中心的地位

据报道，最近几个月，英国的财政大臣杰里米·亨特（Jeremy Hunt）与中国创建的时尚零售商Shein的老板会见了该公司，以鼓励该公司在伦敦证券交易所开设首次公开募股。

The Financial Conduct Authority (FCA) has a proud history of excellence and innovation in both financial services and in computer science. Yet its regulatory approach to bitcoin, which sits at the intersection between these disciplines, is undermining that position. In recent months, the Financial Conduct Authority (FCA) has created uncertainty, driven businesses offshore, and is damaging the UK’s competitiveness in digital finance.

金融行为管理局（FCA）在金融服务和计算机科学领域都拥有卓越和创新的骄人历史。然而，其对比特币的监管方法位于这些学科之间的交叉点，正在破坏这一立场。近几个月来，金融行为管理局（FCA）创造了不确定性，驱动企业在近海中，并损害了英国在数字融资方面的竞争力。

This was evident at the Bitcoin for Institutions event, held recently in London at The Law Society, which brought together investors, policymakers, and industry leaders to assess bitcoin’s growing significance. As institutions are making decisive moves to integrate bitcoin into their strategies, the event highlighted how regulatory uncertainty, restrictive policies, and a risk-averse approach are putting the UK at a disadvantage.

这在最近在伦敦的律师协会举行的比特币活动中很明显，该活动汇集了投资者，政策制定者和行业领导者，以评估比特币越来越重要的意义。随着机构正在采取决定性的举动，将比特币整合到其战略中，该事件强调了监管不确定性，限制性政策和规避风险的方法如何使英国处于不利地位。

While other jurisdictions recognise Bitcoin’s role in institutional finance and are acting accordingly, the message from the event was clear: the UK risks being left behind as institutions elsewhere continue to diversify their portfolios with the digital asset.

尽管其他司法管辖区认识到比特币在机构财务中的作用并相应地行事，但事件中的信息很明显：随着其他地方的机构继续将其投资组合多样化，英国的风险被抛在后面。

At a glance: The UK is lagging behind in bitcoin adoption as institutions elsewhere diversify their portfolios with the digital asset.

一眼：英国在比特币采用中落后，因为其他地方的机构将其投资组合用数字资产多样化。

Rising Institutional Interest In Bitcoin

比特币的机构兴趣不断上升

The event, which focused on the burgeoning landscape of bitcoin-related products and services catering to institutional investors, unveiled a stark contrast between the U.S. and the UK in terms of the pace of institutional adoption.

该活动的重点是迎合比特币相关产品和服务的机构投资者的景观。

While the U.S. is witnessing an influx of bitcoin ETFs, pension funds investing in the digital asset, and corporate treasurers diversifying into bitcoin, the UK institutions are still largely exploring the asset class.

尽管美国目睹了比特币ETF的涌入，投资数字资产的养老基金，以及使比特币多样化的公司财务主管，但英国机构仍在很大程度上探索资产类别。

This difference was highlighted by several speakers, including Allen Farrington, co-founder of Axiom, a bitcoin-native investment firm focused on capital deployment in the bitcoin economy, who described how bitcoin is forming the basis of a viable institutional asset class.

几位发言人强调了这种差异，其中包括一家专注于比特币经济中资本部署的比特币本地投资公司Axiom的联合创始人艾伦·法灵顿（Allen Farrington），他描述了比特币如何形成可行的机构资产类别的基础。

Despite bitcoin being the best-performing asset of the decade and having achieved a level of price stability unmatched by fiat currencies, rendering it suitable for long-term financial planning, UK institutions are lagging behind.

尽管比特币是十年中表现最好的资产，并且已经达到了法定货币不合比的价格稳定水平，但它适合于长期的财务计划，但英国机构仍在落后。

This lag is attributed to the role of the FCA, which is tasked with ensuring financial stability and safeguarding consumers but has inadvertently become a barrier to innovation.

该滞后归因于FCA的作用，FCA的任务是确保财务稳定和保护消费者，但无意中成为创新的障碍。

As a result, businesses have been driven out of the UK, either by regulatory hostility or by deciding that the cost of compliance with poorly thought-out regulation is too high.

结果，企业因监管敌对行动而被驱逐出英国，或者决定遵守经过深思熟虑的监管的成本太高。

However, despite the setbacks, there is hope that the tide might be turning.

但是，尽管遇到了挫折，但希望潮流可能会发生。

"Many U.S. companies have started incorporating bitcoin into their financial planning, and many others are well down the road," explained Andrew Hohns, founder and CEO of Newmarket Investment Management. "In the UK, institutional awareness of the benefits of bitcoin is more nascent, but the topic will move closer to center stage as corporate and sovereign game theory quickly take hold."

Newmarket Investment Management的创始人兼首席执行官Andrew Hohns解释说：“许多美国公司已经开始将比特币纳入其财务计划中，而许多其他公司都非常遥不可及。” “在英国，对比特币好处的机构意识更为淡淡，但是随着公司和主权游戏理论的迅速持有，这个话题将更加接近中心舞台。”

He further highlighted the urgency, stating that given the potential of bitcoin and its record, the risk is not so much in owning bitcoin as it is in not owning it, a sentiment shared by Dominic Frisby, who pointed out the implications of ignoring an asset class that has consistently outperformed over a 15-year period.

他进一步强调了紧迫性，并指出，鉴于比特币及其记录的潜力，这种风险在拥有比特币方面并不像没有拥有比特币，这是多米尼克·弗里斯比（Dominic Frisby）所共有的一种情绪，他指出了忽略在15年期间始终表现出一致性的资产类别的含义。

Discussing the U.S. administration's stance on bitcoin, which includes President Donald Trump signing an executive order in early March 2025 to establish a Strategic Bitcoin Reserve, and the actions of the U.S. Congress, Steve Baker, who served as Minister of State in the Cabinet Office until July 2024, highlighted the contrast in attitude.

讨论美国政府对比特币的立场，其中包括唐纳德·特朗普（Donald Trump）总统于2025年3月上旬签署了一项行政命令，以建立战略性的比特币储备，以及美国国会议会的行动史蒂夫·贝克（Steve Baker），史蒂夫·贝克（Steve Baker）曾在内阁办公室担任国内置部长，直到2024年7月，他强调了态度的对比。

"It’s great that the U.S. is governed by a group of people who understand this and are thinking about it in terms of national interest and global competitiveness," said Baker, referring to the U.S. government's willingness to engage with and learn about bitcoin.

贝克说：“美国受到一群了解这一点并在国家利益和全球竞争力方面思考的人统治，这真是太好了。”

This contrasts with the UK, where there has been a preference for incumbents and a reluctance to engage with new technologies.

这与英国形成鲜明对比的是，在英国偏爱现任者，也不愿与新技术互动。

While the U.S. and other jurisdictions, such as the UAE and Singapore, are attracting capital and talent by setting up frameworks that differentiate between bitcoin and speculative cryptoassets, the FCA has created a framework that lumps them together.

尽管美国和其他司法管辖区（例如阿联酋和新加坡）通过建立区分比特币和投机性加密和投机的框架来吸引资本和人才，但FCA创建了一个将它们融合在一起的框架。

This approach disregards the unique characteristics of bitcoin as a decentralized monetary network, a point highlighted by Adrian Cannon from Musqet, who noted that bitcoin is fundamentally different from other cryptoassets and that its revolutionary nature in ideas and concepts does not fit neatly within existing regulatory and banking frameworks.

这种方法忽略了比特币作为分散的货币网络的独特特征，这是Musqet的Adrian Cannon突出的观点，他指出，比特币与其他加密货币的根本不同，并且其在思想和概念中的革命性在现有监管和银行业框架中并不吻合。

"It feels like there’s a mismatch between what they’re trying to do and the problems they’re trying to solve," Cannon said, referring to the shortcomings of the current regulatory thinking.

坎农说：“感觉他们试图做的事情与他们试图解决的问题之间存在不匹配。”

The British government is rolling out a new initiative called the Regulatory Innovation Office, which is intended to reign in overzealous regulators who are seen as stifling innovation with paperwork and red tape.

英国政府正在推出一项名为监管创新办公室的新计划，该计划旨在统治过度狂热的监管机构，这些监管机构被视为用文书工作和繁文tape节扼杀创新。

However, according to Baroness Claire Fox, who sits in the House of Lords and has been following the government's efforts, the reality is a system of self-replicating bureaucracy, with quangoes of regulators who are not accountable to anyone

然而，根据坐在上议院并一直在追随政府努力的男爵夫人克莱尔·福克斯（Claire Fox）的说法，现实是一种自我复制官僚主义的体系，监管机构的Quangoes不对任何人负责