A coalition of UK and global trade organizations has reached out to the prime minister’s office, urging the government to recognize the anticipated economic and societal benefits associated with a new wave of digital asset and blockchain technology.
With the election of Donald Trump reshaping the cryptocurrency landscape, stakeholders in the digital economy are calling on the UK to lead in this emerging global race.
The letter directed to Varun Chandra, the prime minister’s business and investment advisor, has been coordinated by the UK Cryptoasset Business Council and endorsed by several organizations including techUK, the Crypto Council for Innovation, The Payments Association, Global Digital Finance, and the Digital Currencies Governance Group.
The correspondence includes numerous recommendations, such as the appointment of a blockchain special envoy and the formulation of a government action plan aimed at identifying opportunities, attracting investment, and enhancing blockchain adoption. Furthermore, the trade bodies advocate for the establishment of a high-level forum that includes industry players, government officials, and regulators to support informed decision-making and forward-thinking blockchain policies.
The letter highlights the UK’s abundant talent pool, access to capital, and robust academic sector as key factors that position the country as a significant player in the blockchain arena. It also commends the government’s regulatory framework.
“This approach is already drawing in investment and talent, reinforcing the UK’s status as a global hub for next-generation internet technologies. We must ensure that this progress continues, lest we risk falling behind jurisdictions such as the US, Singapore, and Hong Kong,” the authors caution.