British trading institutions ask authorities to prioritize cryptocurrency

Traders Union
All News
Crypto News
British trading institutions ask to prioritize cryptocurrency

Industry Seeks Policy Coordination and Global Competitiveness

The coalition—comprised of the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, Crypto Council for Innovation, and techUK—pointed to the United States’ recent policy momentum under President Donald Trump, including his appointment of a crypto czar, as an example for the UK to follow.

They argued that Britain’s emerging tech-focused trade partnership with the U.S. provides an opportunity to “mirror the United States’ ambition” in blockchain and digital finance. The groups recommended the UK:

- Appoint a blockchain envoy to oversee national strategy and policy coordination.- Launch a concierge service to attract and support high-potential crypto firms.- Create a cross-sector engagement forum for government, industry, and regulators.- Recognize the overlap between blockchain, AI, and quantum computing for public sector applications.

£57 Billion Economic Potential Over the Next Decade

The trade bodies estimate that digital assets and blockchain technology could add £57 billion ($73.6 billion) to the UK economy over the next 10 years. Globally, the sector is projected to contribute £1.39 trillion ($1.8 trillion) to GDP by 2030.

“With deep pools of talent, access to capital, world-class academic institutions, and sophisticated regulators, the UK provides an environment where digital assets and blockchain innovation can thrive,” the group wrote.

Industry Concerns Over Falling Behind

Responding to the letter, Tom Griffiths, co-founder of compliance advisory firm BitCompli, warned that the UK is falling behind other jurisdictions such as Dubai, Singapore, and parts of the European Union. He urged the Financial Conduct Authority (FCA) to accelerate its crypto oversight strategy or risk missing out on long-term growth opportunities.

“The FCA has a lot of talent and a good sight of future plans, but the UK is definitely losing pace… Now is the time for the FCA to act,” Griffiths said.

As digital assets become increasingly central to global finance and innovation, the UK’s next steps may determine whether it emerges as a competitive crypto hub—or cedes leadership to more agile regulatory environments abroad.

Recently we wrote, that Coinbase CEO Brian Armstrong is urging U.S. lawmakers to modernize financial regulations and allow stablecoin holders to earn onchain interest.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.