On November 12, 2025, Ripple CEO Monica Long met with Lucy Rigby, Economic Secretary at the UK Treasury, to discuss how digital assets can boost national competitiveness and growth. The meeting sparked speculation about Ripple’s next move in the UK and the UK’s ambitions for digital assets and blockchain. Mr Long told X that the UK is “establishing itself as one of the world’s leading financial hubs”.
Notably, Rigby’s role in financial regulation has not gone unnoticed by the crypto community, as Rigby is directly involved with Ripple. Meanwhile, Ripple executive Cathy Craddock recently revealed that the company intends to take advantage of recent regulatory cooperation between the US and UK.
with photo X, Rigby said.A stimulating discussion with Ripple’s Monica Long here Singapore Accelerating innovation in digital assets and new dedicated global support fintech We are expanding in the UK. ”
After winning the US Securities and Exchange Commission (SEC), Ripple applied to register as a crypto asset company with the UK’s Financial Conduct Authority (FCA).
It is a great honor to welcome the UK Economic Secretary to the Treasury. @LucyRigby At Ripple’s Singapore office, we will discuss how digital assets can drive the UK’s competitiveness and growth, building on our position as one of the world’s leading financial hubs. pic.twitter.com/dIB7SBH4RE
— Monica Long (@MonicaLongSF) November 12, 2025
Rigby also met with Kraken co-CEO Arjun Sethi. However, Sethi openly criticized the UK’s cryptocurrency regulations.
Nice to meet Arjun Sethi and his team @krakenfx This afternoon we discuss exciting opportunities for digital asset innovation in 🇬🇧 pic.twitter.com/b9Ayo93jYC
— Lucy Rigby KC MP (@LucyRigby) November 6, 2025
“Users in the UK are blocked from approximately 75% of crypto products, including DeFi staking and lending,” said Kraken co-CEO.
“Today in the UK, if you go to a cryptocurrency website that includes Kraken, you will see a warning equivalent to the warning on a cigarette pack: ‘If you use this, you will die,’” said Kraken co-CEO Arjun Sethi. “It’s even worse for the consumer because the transaction has to happen quickly. Disclosure is important, but when you have 14 steps, it’s even worse.”
It also criticized the UK’s strict cryptocurrency regulations, which it said were hindering the flow of capital and hurting the user experience.
Sethi also said that Kraken will not offer tokenized shares of private companies like Robinhood does, calling tokenized OpenAI shares a “terrible idea.”
The X crypto community showed support for Sethi.
“UK regulations are certainly inhibiting growth. It’s like they’re forcing innovation out the back door. And the tokenization of stocks? Total hype, no real utility,” said @DrigaDenis.
To be honest, Sethi is right that the UK is turning its crypto scene into a museum.
Blocking 75% of the market doesn’t stop innovation, it just moves it elsewhere.
The enemy is not DeFi, but overregulation.
And yeah, tokenize private equity? That’s not progress, it’s reckless hype.— Joe | KOL and Alpha Crypto Influencer (@SelfSuccessSaga) November 12, 2025
Discover: Next 1000x Crypto: 10+ Crypto Tokens That Could Reach 1000x In 2025
What is the US-UK Launch Transatlantic Task Force?
Recently, the US and UK governments established a formal joint task force and announced a strategic partnership aimed at reducing regulatory friction for companies seeking to access capital across markets. Importantly, the joint working group will coordinate the two countries’ approaches to monitoring cryptocurrencies.
The task force was established during President Trump’s visit following high-level discussions between British Prime Minister Rachel Reeves and US Treasury Secretary Scott Bessent.
On September 22, 2025, the U.S. Department of the Treasury (DoT) issued a statement saying, “The purpose of the task force is to explore short- to medium-term cooperation options on digital assets while the legal and regulatory regime is still evolving, as well as long-term cooperation options and additional opportunities for innovation in wholesale digital markets.”
According to the US State Department, “the Transatlantic Task Force on Future Markets is required to report within 180 days.”
Explore: UK plans to cut crypto red tape after Trump visit: US and UK launch transatlantic task force
Important points
Ripple executive Cathy Craddock recently revealed that Ripple intends to take advantage of recent U.S.-UK regulatory cooperation.
All eyes are on the gradual introduction of a complete UK cryptocurrency regulatory framework in 2026.
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