On the Record by Bitcoin Policy UK

Bitcoin Policy UK
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The UK's Bitcoin policy conversation On the Record by Bitcoin Policy UK brings the organisation’s latest work and thinking to audio.  Listen to policy papers, consultation responses, research briefings, commentary, and interviews with members of the BPUK team.Covering Bitcoin regulation, CBDCs, financial freedom, digital finance trends, and more, the podcast helps policymakers, professionals, and those exploring Bitcoin stay informed on the issues shaping its future in the UK and beyond. Learn more at https://bitcoinpolicy.uk/

  1. Response to HM Treasury on Cryptoassets Regulation Part 1

    4D AGO

    Response to HM Treasury on Cryptoassets Regulation Part 1

    In this episode, we present an audio version of Part 1 of Bitcoin Policy UK’s response to HM Treasury on Cryptoassets Regulation, originally published on 26 April 2023. This submission sets out a clear and principled framework for how cryptoassets should be regulated in the UK, starting with a crucial distinction that policymakers too often ignore: Bitcoin is fundamentally different from all other cryptoassets. The paper argues that regulation should focus on activities and intermediaries, not the Bitcoin protocol itself, and warns that poorly targeted rules risk being both unenforceable and economically damaging. 🔑 Key themes covered in this episode Why Bitcoin must be treated separately from “crypto” Bitcoin has no issuer, no controlling mind, and no governance mechanism that regulators can influence, unlike almost every other token.Decentralisation and enforceability Why attempting to regulate Bitcoin nodes or miners is both disproportionate and practically impossible.Preventing customer harm where it actually occurs The case for prioritising regulation of exchanges, custodians, and token listings, not peer-to-peer infrastructure.Mining, nodes, and regulation overreach Why running Bitcoin software is not a financial activity and should not fall within the regulatory perimeter.Territorial scope and reality checks How Tor, VPNs, and global node distribution undermine attempts at jurisdiction-based enforcement.Stablecoins, lending platforms, and real risks Lessons from Celsius and other failures, and why transparency, reserves and disclosure matter.Financial promotions and ‘positive frictions’ Why the UK risks driving compliant firms offshore while disadvantaging domestic businesses.Bitcoin as commodity money, not a financial liability How Bitcoin differs from bank money, central bank money, and most digital assets.📄 Read the full written paper here: 👉  Response to HM Treasury on Cryptoassets Regulation Part 1 To find out more about Bitcoin Policy UK's work and how you can get involved, visit: https://bitcoinpolicy.uk/

    27 min
  2. Response to the Bank of England and HM Treasury on the Digital Pound

    JAN 16

    Response to the Bank of England and HM Treasury on the Digital Pound

    In this episode, we present an audio version of Bitcoin Policy UK’s response to the Bank of England and HM Treasury on the Digital Pound, originally published on 31 May 2023. This paper sets out why a retail CBDC represents a fundamental shift in the relationship between citizens and the state, raising serious concerns around privacy, financial surveillance, programmability, and democratic oversight. Rather than modernising money, the digital pound risks embedding new forms of control into the financial system while failing to solve the problems it claims to address. 🔍 What This Episode Covers What the digital pound actually is, and how it differs from cash and commercial bank moneyWhy privacy safeguards are insufficient, even when framed as “proportionate” or “trusted”The risks of programmability, including restrictions on spending and behavioural nudgingWhy intermediated models don’t remove state power, they merely obscure itThe danger of normalising financial surveillance through everyday paymentsHow a CBDC could crowd out private innovation rather than support itWhy existing payment systems already meet most stated policy goalsThe importance of preserving cash, choice, and exit options⚠️ Key Arguments from Bitcoin Policy UK A retail CBDC is not a neutral technical upgrade, it is a political and constitutional changePromises of privacy are policy choices, not technical guaranteesOnce built, CBDC infrastructure is easy to repurpose and hard to roll backFinancial freedom depends on the ability to transact without constant monitoringThe UK should focus on competition, open standards, and cash resilience, not centralised digital money🧠 Why This Matters As governments explore CBDCs globally, decisions made now will shape the future of money for decades. This submission argues that the digital pound risks undermining trust, freedom, and resilience, precisely at a time when those qualities matter most. Bitcoin Policy UK urges policymakers to think carefully about second-order effects, long-term incentives, and the preservation of individual autonomy in the financial system. 📄 Read the full written paper here: 👉  Response to the Bank of England and HM Treasury on the Digital Pound To find out more about Bitcoin Policy UK's work and how you can get involved, visit: https://bitcoinpolicy.uk/

    47 min
  3. My Two Sats UK Quantum Fear vs Bitcoin Reality Freddie New Cuts Through the Noise

    JAN 9

    My Two Sats UK Quantum Fear vs Bitcoin Reality Freddie New Cuts Through the Noise

    This episode was originally published on My Two Sats by Roxom TV on 21 November 2025. https://www.youtube.com/watch?v=qpIWjSFWNgM Bitcoin headlines are screaming about “quantum threats,” “treasury disasters,” and “government control.” But what’s real — and what’s propaganda? Freddie New, CEO of B Hodl and Chief Policy Officer at Bitcoin Policy UK, joins Susie Violet Ward to dismantle the fear, break down the U.S. Bitcoin tax revolution, and expose why quantum computing won’t crack Bitcoin anytime this century. From Lightning Network yield and node infrastructure, to Nakamoto Holdings’ accounting chaos, to the UK falling a decade behind the U.S. on Bitcoin policy — this episode cuts through the noise with clarity, data, and brutal honesty. Subscribe to Roxom TV for more Bitcoin news & crypto culture insights. 00:00 – Bitcoin Through a New Lens 👁️ | Show Opens 02:00 – Lightning Yield: 6% and Rising ⚡ | Real Numbers 05:10 – Treasury Companies Exposed 🏢 | What’s Real vs Hype 08:32 – The U.S. Bitcoin Tax Act 🇺🇸 | A Strategic Pivot 11:40 – Why the UK Is a Decade Behind 🇬🇧 | Hard Truths 15:05 – Strategic Reserves & Inflation Fallout 📉 | Freddie Explains 18:15 – Quantum Panic in the Headlines 🛑 | What’s Actually True 20:42 – Can Quantum Crack Bitcoin? 🧠 | Freddie’s Breakdown 24:18 – Banks, Governments & Weak Security First 🏦 | Bigger Targets 27:30 – Y2K vs Quantum 🚨 | Lessons From History 31:40 – Treasury Disasters: Nakamoto Holdings 📊 | What’s Happening 35:55 – Pump-and-Dump Companies 🚫 | Freddie’s Warning 38:12 – Visa, CBDCs & Digital ID 🔒 | Why Bitcoin Matters 41:05 – Australia’s Social Media Ban 👶 | Surveillance Concerns 45:10 – How Parents Can Actually Protect Kids 📱 | No Easy Fix TRADE BITCOIN TREASURY STOCKS, DENOMINATED IN BITCOIN. EARLY ACCESS HERE: https://roxom.com/treasuries Social Media: Instagram  / roxomtv TikTok  / roxomtv X  / roxomtv The Beating Heart of Bitcoin And World News. 🔔 Follow BPUK Visit bitcoinpolicy.uk for more insights, briefings, and research on Bitcoin policy in the UK.

    49 min
  4. Wiston Capital A Conversation About Bitcoin - Concerns and Opportunity with Freddie New

    JAN 2

    Wiston Capital A Conversation About Bitcoin - Concerns and Opportunity with Freddie New

    This episode was originally published by Wiston Capital on 25 September 2025. https://bagster.substack.com/p/a-conversation-about-bitcoin-concerns A Conversation About Bitcoin - Concerns and Opportunity Charlie Erith talks to Freddie New, from Bitcoin Policy UK We recently hosted an enlightening fireside chat with Freddie New, co-founder of Bitcoin Policy UK. It was a fascinating and wide-ranging conversation which we’re delighted to share with you. And we had great questions from an engaged and financially literate audience. In the discussion, Freddie explores Bitcoin’s game-changing role in reshaping economies and governments. Key highlights include: Energy Efficiency & Grid Management: How Bitcoin mining can optimise power grids and drive sustainable energy innovations.Escaping Rising Debt: Bitcoin as a “lifeboat” in an era of ballooning national debts and fiat instability.Quantum-Resistant Security: Safeguarding against emerging threats like quantum computing.Stablecoins Demystified: Addressing common questions and the path forward for digital currencies.Bitcoin is attracting growing institutional interest. This conversation forms a part of Wiston Capital’s efforts to demystify this important new asset. 🔔 Follow BPUK Visit bitcoinpolicy.uk for more insights, briefings, and research on Bitcoin policy in the UK.

    54 min
  5. Response to FCA on Cryptoasset Financial Promotions

    12/26/2025

    Response to FCA on Cryptoasset Financial Promotions

    In this episode, we present an audio version of Bitcoin Policy UK’s response to the FCA’s consultation  GC23/1 || PS23/6 on cryptoasset financial promotions, originally published on 5 August 2023. You’ll hear a clear explanation of why the proposed rules risk misunderstanding Bitcoin, misclassifying it, and pushing consumers into harm’s way, the opposite of what good regulation should achieve.  🔍 What this episode covers In this spoken paper, we walk through the key arguments and evidence submitted to the FCA, including: 🔹 The FCA’s core mistake: treating all “cryptoassets” as the same The response explains why Bitcoin is fundamentally different - a protocol, a network, and a digital commodity with no issuer - and why the FCA’s “restricted mass market investment” label is logically and practically flawed. 🔹 Why miscategorising Bitcoin creates enforcement, logic, and consumer-protection problems From 24/7 global liquidity to permissionless use, the paper explains why Bitcoin simply doesn’t fit the Restricted Mass Market Investment (RMMI) framework. 🔹 The unintended consequences of the new rules Feedback from UK firms highlights how poorly-designed regulation could: Drive consumers toward offshore, unregulated providersIncrease customer harmUndermine UK competitivenessBurden compliant firms while bad actors flourish🔹 Why the current regulatory approach risks becoming paternalistic The FCA should protect consumers from misleading promotions, not decide what adults should invest in. 🔹 Why the FCA must distinguish between staking, borrowing/lending, and speculative yield schemes Lumping everything together obscures risks, confuses consumers, and creates regulatory blind spots. 🏛️ Key themes Bitcoin ≠ crypto.Regulation should focus on behaviour of firms, not assets themselves.Poorly conceived rules can be harmful, unenforceable, and counterproductive.Differentiation, clarity, and proportionality are essential, particularly for an asset as unique as Bitcoin.📄 Read the full written paper here: 👉  Response to FCA on Cryptoasset Financial Promotions To find out more about Bitcoin Policy UK's work and how you can get involved, visit: https://bitcoinpolicy.uk/

    42 min
  6. My Two Sats: Bitcoin Mining Is Saving Europe’s Energy Grid - Rachel Geyer Explains

    12/19/2025

    My Two Sats: Bitcoin Mining Is Saving Europe’s Energy Grid - Rachel Geyer Explains

    This episode was originally published on My Two Sats by Roxom TV on 29 October 2025. https://www.youtube.com/watch?v=Os3Iu-Y1HAg&list=PLQblFHM1fNaRAJkK-JqhEKpA6o5YNnGBf&index=11 Bitcoin mining isn’t just about blocks and hash rates — it’s about energy, innovation, and survival. Rachel Geyer, Chair of the European Bitcoin Energy Association and VP of TerraHash, joins Susie Violet Ward to reveal how Bitcoin miners are helping stabilize Europe’s energy grids using waste heat, renewables, and flexible load systems. From Finland’s district heating projects to Germany’s industrial reuse of solar energy, Rachel explains how Bitcoin mining is reshaping Europe’s energy narrative — clean, profitable, and unstoppable.  Subscribe to Roxom TV for more Bitcoin news & crypto culture insights. 00:00 – Intro 🎬 Welcome to My Two Sats with Susie Violet Ward 00:45 – Rachel Geyer joins 🌍 Bitcoin mining meets European energy 02:00 – The TerraHash story ⚡ Turning waste heat into Bitcoin 04:30 – Solar power + Bitcoin mining ☀️ Using excess renewable energy 06:00 – Curtailment crisis 💸 How miners fix wasted energy in Europe 08:30 – Finland project 🇫🇮 Bitcoin miners heating 13,000 homes 10:00 – European Bitcoin Energy Association 🇪🇺 Collaboration is key 12:30 – Fighting FUD 🧠 Rebranding miners as “flexible data centers” 14:00 – Car wash innovation 🚗 Using miners to heat floors & panels 17:00 – Bitcoin mining & decentralization 🧩 Small solutions, big impact 21:00 – Nuclear vs renewables ☢️ Why France might double hash rate 24:00 – Freedom money vs capture 🕊️ Can Bitcoin stay uncensored? 27:00 – Leaving the system 💼 Why Rachel quit her job on Bitcoin White Paper Day 33:00 – Feminine finance 💪 Mothers, pensions & the sovereignty shift 41:00 – Regenerative farming 🌾 Bitcoin, soil, and sustainability 58:00 – Future of money 💡 Bitcoin + AI + peer-to-peer media revolution TRADE BITCOIN TREASURY STOCKS, DENOMINATED IN BITCOIN. EARLY ACCESS HERE: https://roxom.com/treasuries Social Media: Instagram  / roxomtv TikTok  / roxomtv X  / roxomtv The Beating Heart of Bitcoin And World News. 🔔 Follow BPUK Visit bitcoinpolicy.uk for more insights, briefings, and research on Bitcoin policy in the UK.

    1h 11m
  7. Submission to the FCA in relation to Financial Promotions on Social Media

    12/12/2025

    Submission to the FCA in relation to Financial Promotions on Social Media

    In this episode, we present an audio version of Bitcoin Policy UK’s submission to the Financial Conduct Authority (FCA) consultation paper GC23/2 – Financial Promotions on Social Media, published on 25 September 2023. Bitcoin Policy UK supports the FCA’s objectives to reduce consumer harm and improve market integrity but raises important distinctions between genuine Bitcoin-related communications and the influencer-driven promotion of speculative “crypto” tokens. The paper highlights: The risks of unregulated influencer activity, including “pump and dump” schemes such as the TURBO and BEN tokensThe need to distinguish between Bitcoin - a decentralised commodity with no issuer - and the thousands of tokens controlled by private entitiesThe potential benefits of a prospectus-style regime for new token issuanceThe need for clarity on enforcement responsibilities between influencers, platforms, and regulatorsBPUK argues that while much of the consultation rightly targets harmful promotions, regulation must be designed so that it does not unfairly restrict legitimate discussion of Bitcoin or prevent consumer education. 🧭 Key themes: Influencer-driven crypto promotion and retail investor harmDistinguishing Bitcoin from token-based projectsThe role of social media platforms in enforcementCalls for a three-year track record requirement for new token offeringsEncouraging proportionate regulation that preserves free speech and innovation📄 Read the full written paper here: 👉  Submission to the FCA in relation to Financial Promotions on Social Media To find out more about Bitcoin Policy UK's work and how you can get involved, visit: https://bitcoinpolicy.uk/

    7 min
  8. Response to ESMA regarding the MiCA Consultation Paper

    12/05/2025

    Response to ESMA regarding the MiCA Consultation Paper

    In this episode, we present an audio version of Bitcoin Policy UK’s response to the European Securities and Markets Authority (ESMA) consultation on the Markets in Crypto Assets (MiCA) Regulation, published on 5 December 2023. Bitcoin Policy UK challenges ESMA’s focus on the adverse environmental impacts of consensus mechanisms such as Bitcoin mining and calls for a balanced approach that recognises their positive contributions — particularly those of Proof of Work. The paper explains how Bitcoin mining can: Mitigate methane emissions by consuming stranded or wasted gasSupport new renewable energy projects by acting as a flexible, location-agnostic energy buyerStabilise sustainable power grids through demand responseReuse mining heat for beneficial industrial and domestic purposesThe response also clarifies key misconceptions about how the Bitcoin network operates — distinguishing between miners and validating nodes — and highlights why Proof of Work remains uniquely capable of delivering sustainability benefits. 🧭 Key themes: Correcting ESMA’s misunderstanding of Bitcoin’s consensus processThe environmental potential of Proof of WorkMethane mitigation and grid stabilityPositive disclosures in sustainability reportingWhy Proof of Stake cannot replicate these benefits📄 Read the full written paper here: 👉  Response to ESMA regarding the MiCA Consultation Paper To find out more about Bitcoin Policy UK's work and how you can get involved, visit: https://bitcoinpolicy.uk/

    29 min
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The UK's Bitcoin policy conversation On the Record by Bitcoin Policy UK brings the organisation’s latest work and thinking to audio.  Listen to policy papers, consultation responses, research briefings, commentary, and interviews with members of the BPUK team.Covering Bitcoin regulation, CBDCs, financial freedom, digital finance trends, and more, the podcast helps policymakers, professionals, and those exploring Bitcoin stay informed on the issues shaping its future in the UK and beyond. Learn more at https://bitcoinpolicy.uk/

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