Kraken UK's managing director, Bivu Das, has urged the UK government to expedite cryptocurrency regulation to reclaim its position as a leader in financial innovation. Speaking at the Zebu Live conference, Das highlighted that the UK is lagging behind the US and EU in establishing crypto rules, risking its access to the sixth-largest global economy with a GDP nearing $4 trillion. Das pointed out that despite active lobbying from the industry, regulatory progress has stalled since a snap election disrupted previous government efforts. The new Labour government has yet to prioritize crypto regulation, even as recent US regulatory actions have increased the urgency. Meanwhile, the Financial Conduct Authority has defended its cautious regulatory approach, emphasizing its role in preventing incidents like the FTX collapse.