UK Trade Associations Urge Government to Prioritize Crypto as a Strategic Focus
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Several UK trade bodies have urged Prime Minister Keir Starmer’s office to appoint a special envoy dedicated to crypto and blockchain technology, citing the US’s successful policy shift under President Donald Trump.
This coalition of six digital economy trade organizations, including the UK Crypto Asset Business Council and techUK, has called for a greater strategic focus on digital assets to drive investment, growth, and job creation in the sector.
Trade Bodies Call for Blockchain Special Envoy to Drive Innovation and Urgency
In a letter sent on March 31, the trade associations recommended that the UK government adopt a similar approach to the US by appointing a special blockchain envoy to coordinate policy and foster innovation.
**🇬🇧 UK Organizations Urge Government to Make Crypto a Strategic Priority**
Six British trade associations sent a letter to **Prime Minister Keir Starmer’s office**, proposing:
– **Appoint a dedicated crypto and blockchain representative** (a "crypto czar").
– **Develop a… pic.twitter.com/Ns8rDheUwh— Teplitsa for business (@Teplitsa_) April 2, 2025
The group also proposed creating a focused action plan for crypto and blockchain, including a service to attract promising firms.
The coalition highlighted that the UK’s economic trade agreement with the US, which focuses on technological collaboration, offers the UK a major opportunity to establish leadership in blockchain, digital assets, and integrating other emerging financial technologies.
They also recommended leveraging the intersections between blockchain, quantum computing, and AI, noting the potential for these technologies to improve government services.
Additionally, the trade bodies proposed establishing a high-level industry, government, and regulator engagement forum to support informed decision-making and cross-sector collaboration.
The letter highlighted the UK’s talent, capital, and regulators, making it ideal for blockchain innovation, but warned it could fall behind without swift action. Tom Griffiths, co-founder of BitCompli, echoed this on LinkedIn, cautioning that the UK risks lagging behind unless the FCA acts.
The group claims that blockchain and crypto technologies adoption could boost the UK economy by as much as £57 billion ($73.6 billion) over the next decade, with the sector potentially contributing £1.39 trillion ($1.8 trillion) to global GDP by 2030.
Analysts and economic experts note that the pressure on the FCA is growing, urging swift action to ensure the UK doesn’t miss out on the vast opportunities digital assets present.
Global Crypto Adoption and Regulations Shaping the Future of Global Crypto Markets
Crypto adoption and regulation continue to grow across the world.
The UAE is the most crypto-focused country, scoring 98.4, higher than Singapore (97.5) and the US (85.4).
With 25.3% of its population owning cryptocurrency and a 210% adoption rate, the UAE’s focus on crypto is set to boost investor confidence and increase market liquidity. If this growth continues, it will solidify its position as a global crypto hub.
Some advanced countries have not adopted or integrated crypto as quickly as the industry anticipated.
Despite its reputation as a tech-savvy nation, South Korea ranked the lowest among the top countries with a score of 52.2.
Similarly, Switzerland, renowned for its strong financial system, ranked seventh with a score of 58.1. However, its 90% adoption rate reflects a well-established crypto market.
The EU stands out as the most notable market, having prioritized securing measures and regulations like Markets in Crypto-Assets Regulation (MiCA) before further institutional adoption.
Currently, concerns that US cryptocurrency policies might negatively impact the EU economy has also driven the region to focus on developing its own digital Euro.
