A coalition of six significant trade associations in the UK is urging the government to prioritize policies on cryptocurrency and blockchain technology to ensure its relevance in the ever-evolving global digital economy.
On March 31, 2025, the UK Cryptoasset Business Council, techUK, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, and the Crypto Council for Innovation submitted a letter to Varun Chandra, the Prime Minister’s special advisor on business and investments.
Moreover, the coalition stressed the need for a unified strategy to maintain the UK’s competitiveness in the global digital landscape while advocating for a stronger strategic focus and alignment to promote investment, growth, and employment within the UK’s digital asset sector.
Additionally, they highlighted the policy shift in the US regarding crypto and the appointment of a crypto czar under President Trump’s administration. They proposed that the UK designate a blockchain special envoy, akin to the US’s crypto czar, to promote innovation in the UK.
A coalition of leading UK trade associations has called on Prime Minister Keir Starmer’s government to appoint a dedicated crypto envoy. Click the 🔗 for the full story »> Read More
Furthermore, they cautioned about an ongoing global digital race, arguing that the UK must remain adaptable to avoid falling behind nations like Singapore, the UAE, and Hong Kong, which have already initiated strategies to attract blockchain businesses.
The UK’s commitment to an economic trade deal emphasizing technological cooperation with the US presents a significant opportunity to reflect the United States’ ambition in leading developments in blockchain, digital assets, and other emerging financial technologies.
The UK Could Contribute to Crypto £1.39 Trillion Global GDP by 2030
A dedicated action plan from the government for blockchain and crypto is necessary, according to the coalition. Such a plan would focus on identifying key growth areas, developing public sector support, and assisting startups in scaling through concierge-adjacent services.
The group pointed out the importance of recognizing the increasing convergence of AI, blockchain, and quantum computing. Effectively utilizing these three technologies could unlock significant advancements in transparency, productivity, and decentralization across various UK sectors.
The coalition also stated that the UK’s ‘deep pools of talent, access to capital, elite academic institutions, and skilled regulators’ create a conducive environment for blockchain innovation.
Citing studies conducted by PwC and Chainanalysis, the coalition projects that blockchain technology could contribute an additional $57 billion to the UK economy in the next decade and add £1.39 trillion to the global GDP by 2030.
Finally, they suggested forming a high-level forum consisting of industry leaders, government representatives, and regulators to facilitate intelligent regulations, which would guarantee cross-sector collaborations and guide policy decisions toward encouraging blockchain advancements.
