The UK needs to beef up its regulation of crypto for public confidence to return to the still reeling sector in the wake of the FTX collapse, Coinbase Vice President for International Policy Tom Duff Gordon said in a podcast interview. “Certainly if you look at the UK for example, one way to restore confidence is to usher in and accelerate some basic regulatory guardrails,” Gordon said in an episode of "Following the Rules" released on Tuesday, adding that companies may need to be proactive and seek out regulation. While regulators may not always move as fast as government wants, Coinbase has been engaging with British parliamentarians “across the political divide" through parliamentary groups on crypto and other events, Gordon said, adding that he's been speaking to the lead economic spokesman for the Labour Party, Rachel Reeves.

“I think it's important and we don't make any bets on election outcomes, but we do want to make sure that across the political divide that there is support for digital assets,” he said.