A coalition of six prominent trade associations in the UK has urged the government to prioritise policies concerning crypto and blockchain technology in order to stay relevant in the rapidly growing global digital economy.
On 31 March 2025, the UK Cryptoasset Business Council, techUK, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, and the Crypto Council for Innovation jointly addressed a letter to Varun Chandra, the Prime Minister’s special advisor on business and investments.
Moreover, the coalition emphasized the necessity for a cohesive strategy to maintain the UK’s competitiveness in the global digital landscape while also calling for a greater strategic focus and alignment to deliver investment, growth, and jobs in the UK’s digital asset sector.
Furthermore, they noted the policy shift in the US regarding crypto and the appointment of a crypto czar under President Trump’s administration and have recommended that the UK appoint a blockchain special envoy, similar to the US’s crypto czar, to foster innovation in the UK and to ensure the country is competitively positioned in the global digital landscape.
A coalition of leading UK trade associations has called on Prime Minister Keir Starmer’s government to appoint a dedicated crypto envoy.
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In addition, the group cautioned that a global digital race is currently underway and therefore argued that the UK must remain flexible. Otherwise, it risks falling behind countries like Singapore, the UAE, and Hong Kong that have already rolled out strategies to attract blockchain businesses.
Britain’s commitment to an economic trade deal focused on technological cooperation with the US “presents a significant opportunity to mirror the United States’ ambition in fostering leadership in blockchain, digital assets, and other emerging financial technologies,” the letter stated.
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The UK Could Contribute to Crypto £1.39 Trillion Global GDP by 2030.
A dedicated government action plan for blockchain and crypto is the need of the hour, as per the coalition. The action plan would involve scouting key growth areas, developing public sector support, and helping startups scale up in the UK through concierge-adjacent services.
Notably, the group has mentioned the need to take into account the increasing interplay between AI, blockchain, and quantum computing. Utilizing the combined power of these three technologies effectively can potentially unlock key advancements in transparency, productivity, and decentralization across various industries in the UK.
Additionally, the coalition stated that the UK’s “deep pools of talent, access to capital, world-class academic institutions, and sophisticated regulators” create a suitable environment where “blockchain innovation can thrive.”
Citing research conducted by PwC and Chainanalysis, the coalition projects that blockchain technology could enhance the nation’s economy by $57 billion in the coming decade while also adding £1.39 trillion to the global GDP by 2030.
Finally, the letter proposed establishing a high-level forum comprising industry leaders, government officials, and regulators to help facilitate smart regulations. This approach, the coalition argued, would ensure cross-sector collaborations and inform policy decisions to foster a progressive outlook on blockchain developments.
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Key Takeaways
- The coalition suggests appointing a Blockchain Special Envoy and creating an industry-government forum.
- Blockchain sector could add £57 billion to the UK economy over the next decade.
- The global blockchain market could reach £1.39 trillion by 2030, highlighting its economic potential
The post UK Trade Bodies Seek Crypto and Blockchain Policy for Economic Growth, Project a £57 Billion Boost Over a Decade. appeared first on 99Bitcoins.
