Andrew Griffith

Andrew Griffith

House of Commons Member

X logo

Strongly supports crypto

Based on 13 statements

Sep 20, 2025

profile picture of Andrew Griffith

Andrew Griffith

@griffitha

x.com logo
As City Minister I met with Circle and other stablecoin issuers many times and begged them to issue a sterling denominated stablecoin. I saw that as vital for innovation in the UK. They declined solely due to the ostrich-like attitude of the regulators. pic.x.com/6qAUIetIVB
tweet image
Very pro-crypto

Jun 11, 2025

profile picture of Andrew Griffith

Andrew Griffith

@griffitha

x.com logo
The U.K. is a wonderful country but in London Tech Week this year there is a definite negative ‘vibe shift’ following news about Wise and Alphawave and others. London risks becoming a ‘flyover state’ as talent and money heads instead to cities such as Paris, Abu Dhabi and Riyadh. Labour’s attacks on business and investors are turning London into hostile territory for wealth creators, just as Sadiq Khan’s refusal to police our streets or the underground is making them think twice about their families living in the capital. What was once the financial epicentre of the world and a safe, high trust place to live is becoming a high tax, high crime horror-show. Actions have consequences, and since Labour took office over £140bn in London listings has been cancelled, relocated, or otherwise lost to exchanges elsewhere. This comes at a cost. Our financial sector accounts for almost 10 per cent of our GDP — no growth strategy is credible without it. When first elected this government had the chance to set out London’s stall as a beacon of stability when other markets seemed more volatile but this was squandered by the Chancellor initially trash talking the economy followed by the actual self-harm of raising taxes, raising spending and fiddling the fiscal rules. In particular, the changes to the taxation of international investors has seen millionaires fleeing the UK at a rate of one every 45 minutes and – by some estimates – fully ten percent of non-domiciled investors having already left. Amongst them Guillaume Pousaz, the Checkout founder, sending a signal to other tech entrepreneurs who tend to cluster together. Whilst some write off London, in my view as former City Minister it is still fixable, but the government would have to get a grip and fast. That would involve a further push on regulatory culture, new investment visas, reversing her global tax grab, more openness to cryptocurrencies, encouragement for retail investors, pushing back on ESG burdens and looking again at disincentives like stamp duty on shares. Instead of wasting time and energy on mandating how Labour politicians will invest your retirement savings, we must tackle the deep-seated regulatory culture of risk aversion which sees far too much investment in low return gilts rather than growth shares such as the very companies moving their listings overseas. Of course, this shift to higher return assets would be easier for the government to embrace if they weren’t themselves conflicted by having to sell gilts in order to fund their profligate public sector spending spree. Under new management we Conservatives have a positive vision for Britain’s businesses where we can drive growth and take a chainsaw to the regulations and lawyers that throttle or slow innovation and investment. A whole rewiring of the state, the economy and the regulations that underpin them.
Very pro-crypto

Jun 9, 2025

profile picture of Andrew Griffith

Andrew Griffith

@griffitha

x.com logo
What can we do? For starters: – A further push on regulatory culture to favour risk over inertia. – Welcoming crypto – Encouraging retail investors – Pushing back on ESG burdens – Scrapping stamp duty on shares
Very pro-crypto

Mar 8, 2025

Jul 21, 2023

Quoted from www.ft.com on Jul 21st, 2023

British MP and economic secretary to the Treasury Andrew Griffith has outrightly rejected calls for the UK government to regulate cryptocurrency as gambling, arguing such a move would run counter to globally agreed recommendations regarding crypto oversight, create unclear mandates between regulators and potentially fail to mitigate several risks.

Very pro-crypto
Quoted from inews.co.uk on Jul 21st, 2023

Treating crypto trading as a form of gambling would run completely counter to globally agreed recommendations from international organisations and standard-setting bodies, including the International Organisation of Securities Commissions and the G20 Financial Stability Board.

HM Treasury and the Financial Conduct Authority will work with the industry to ensure crypto firms are made fully aware of the standards required for approval.

Very pro-crypto

Jul 1, 2023

Quoted from www.theblock.co on Jul 1st, 2023

Griffith is a known advocate for blockchain technology and in a June hearing said the technology could bring a profound and positive impact to multiple sectors in the UK. He also celebrated a16z’s London office announcement, noting that “industry can see that the UK has clear and ambitious plans for cryptoassets.” “I hope that I have made it sufficiently clear that the Government wants to be a leader in this space,” said Griffith in the June hearing.

Very pro-crypto

Mar 30, 2023

Quoted from www.gov.uk on Mar 30th, 2023

We are establishing a framework for regulating cryptoassets and stablecoins. This includes ensuring that the Treasury has the powers to regulate cryptoassets within the existing financial services framework which could cover those relating to the trading and investment of cryptoassets.

Somewhat pro-crypto

Feb 4, 2023

Quoted from www.telegraph.co.uk on Feb 4th, 2023

City minister Andrew Griffith MP told the Treasury Select Committee earlier this month: "There are some really important public policy issues about how you come forward with the design of a sovereign digital currency. We have to get them right. I would rather be right than be first."

Very pro-crypto

Jan 25, 2023

Quoted from hansard.parliament.uk on Jan 25th, 2023

On the potential economy, the hon. Lady might be familiar with the work done by PricewaterhouseCoopers that estimates that blockchain technology, which underlies what is often referred to as crypto, could boost the UK economy by ÂŁ57 billion by 2030. That is a sizeable opportunity and we are keen for the UK to seize its fair share.

Very pro-crypto