Ex-chancellor Lord Hammond is stepping down from Copper. Here’s why his exit reveals the UK’s crypto struggles — and what’s next for finance.
What happens when a former UK chancellor quietly walks away from one of Britain’s biggest digital asset firms? Lord Hammond, once at the Treasury’s helm, is stepping down as chair of Copper — and the timing says a lot about where global finance is headed
A Surprise Exit from Copper
Lord Hammond, who served as chancellor under Theresa May, is preparing to leave his role at Copper, the London-based crypto custody firm. After just three years, he’s helping recruit his own successor — likely an American finance heavyweight — as Copper shifts its focus to the US market.
Why the UK Is Losing Its Grip
Copper’s pivot isn’t random. The firm has been frustrated by Britain’s slow regulatory progress, with Hammond himself warning that Switzerland and the EU are racing ahead in crypto policy. For UK investors, it’s another reminder that global financial innovation may be leaving London behind.
The Bigger Crypto Picture
While the UK debates, US firms are racing ahead under more favourable rules. Copper recently partnered with Wall Street giant Cantor Fitzgerald, underlining the new centre of gravity. For British talent, it sparks a big question: should they follow the money across the Atlantic?
Conclusion (30–40 words):
Lord Hammond’s step back is more than a career move — it’s a signal about Britain’s place in the future of finance. Do you think the UK can still catch up with Europe and the US on crypto?
