UK Trade Bodies Urge Government to Prioritize Crypto

Several British trade associations have called on Prime Minister Keir Starmer’s office to appoint a dedicated envoy for crypto and to introduce a national action plan focused on digital assets and blockchain.

In a letter dated March 31, six UK digital economy trade bodies reached out to Varun Chandra, Starmer’s special adviser on business and investment, requesting stronger strategic alignment to support investment, economic growth, and job creation in the crypto space.

The coalition — made up of the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, the Crypto Council for Innovation, and techUK — referenced recent shifts in U.S. policy under President Donald Trump, including the appointment of a crypto czar.

They emphasized that the UK’s commitment to a tech-focused trade deal with the U.S. presents a key opportunity to match U.S. ambitions in blockchain, digital assets, and related technologies.

The letter urged the government to appoint a blockchain envoy to lead policy efforts, promote innovation, and strengthen the UK’s position in the global digital economy.

The trade bodies also proposed a government-led action plan, including a concierge service to attract high-growth crypto firms.

They further recommended recognizing shared opportunities between blockchain, quantum computing, and artificial intelligence, particularly for public sector applications.

The letter suggested forming a high-level forum for collaboration between industry, regulators, and government to support informed decision-making.

The associations emphasized the UK’s potential as a global hub for digital assets, citing its talent pool, access to capital, academic excellence, and experienced regulators.

The coalition estimated that crypto and blockchain could contribute 57 billion pounds ($73.6 billion) to the UK economy over the next ten years, and add 1.39 trillion pounds ($1.8 trillion) to global GDP by 2030.

Tom Griffiths, co-founder of BitCompli, responded to the letter by stating that although the Financial Conduct Authority has strong talent and vision, the UK is falling behind jurisdictions like Dubai, Singapore, and others in the EU.

He stressed the urgency for UK regulators to act or risk missing out on the long-term benefits of digital assets.

Sources:

https://cointelegraph.com/news/uk-trade-bodies-want-crypto-made-strategic-priority

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