Coinbase Boosts UK Lobbying With Osborne Op-Ed, Satirical Ad Campaign

Coinbase, the leading cryptocurrency exchange, has ramped up its lobbying efforts in the United Kingdom through a high-profile Financial Times op-ed authored by George Osborne, the former UK Chancellor of the Exchequer and now an adviser to the firm. Osborne argues that the UK is missing a critical opportunity to leverage digital assets, particularly stablecoins, which are digital representations of fiat currencies used to streamline cross-border payments and reduce transactional friction. Despite the pound sterling being among the top five most traded currencies globally, the UK is not capitalizing on its position in the growing stablecoin market [1].

Osborne criticized the UK government for its lack of regulatory progress, warning that inaction risks allowing the United States to solidify the dollar’s dominance in the digital asset space, particularly through legislation like the GENIUS Act. He also directly called out current Chancellor Rachel Reeves for failing to deliver on her promises to advance the UK’s role in stablecoin development [1].

In tandem with the op-ed, Coinbase released a controversial musical ad titled “Everything Is Fine,” which satirizes the UK’s economic challenges and positions cryptocurrency as an alternative to the traditional financial system. The ad, which includes critical lyrics about the cost-of-living crisis, has drawn significant public attention. Coinbase claims the ad was banned by major UK television networks, but this has not been independently verified [1].

The campaign signals a strategic shift for Coinbase, which has historically focused its lobbying efforts in the United States. In 2024, the company spent millions on lobbying as part of its broader strategy during a pivotal election year, according to OpenSecrets [1]. Now, it is redirecting attention to the UK, where regulatory changes such as the recent lifting of the ban on crypto exchange-traded notes for retail investors are opening new opportunities [1].

Coinbase’s combined approach—using high-profile voices and provocative media—aims to influence both public opinion and policy makers in the UK. The firm has been present in the UK since 2015 and appears to be seeking to strengthen its foothold in a market that it views as critical to its global expansion [1].

Sources:

[1] Cointelegraph - https://cointelegraph.com/news/coinbase-lobbying-uk-op-ed-george-osborne

[2] ADVFN - https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96557000/coinbase-turns-lobbying-efforts-to-uk-in-scathing