Trade bodies write to No 10 calling for UK blockchain and crypto push

With the election of Donald Trump resetting the crypto agenda, players in the digital economy sector are urging the UK to ensure the country is at the forefront of a new global race.

The letter to the prime minister’s business and investment advisor Varun Chandra has been orchestrated by the UK Cryptoasset Business Council and co-signed by techUK, Crypto Council for Innovation, The Payments Association, Global Digital Finance and Digital Currencies Governance Group.

It makes several recommendations, including the appointment of a blockchain special envoy and the development of a government action plan to identify opportunities, attract investment, and promote blockchain adoption. In addition, the trade bodies want a high-level industry-government-regulator forum to ensure informed decision-making and forward-thinking blockchain policies.

The letter cites the UK’s deep talent pool, access to capital and strong academic sector as reasons it can be a major blockchain player, and also praises the government’s regulatory approach.

“This approach is already attracting investment and talent, strengthening the UK’s position as a global hub for the next generation of internet technologies. It is vital that we ensure this continues, or we risk jurisdictions like the US, Singapore and Hong Kong stealing a march,” write the authors.