{"id":126287,"date":"2025-04-02T04:19:09","date_gmt":"2025-04-02T04:19:09","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126287"},"modified":"2025-04-02T04:19:09","modified_gmt":"2025-04-02T04:19:09","slug":"uk-trade-bodies-ask-government-to-make-crypto-a-strategic-priority","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126287","title":{"rendered":"UK trade bodies ask government to make crypto a \u2018strategic priority\u2019"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSeveral British trade associations have asked Prime Minister Keir Starmer\u2019s office to appoint a special envoy dedicated to crypto and for a dedicated action plan for digital assets and blockchain technology.<br \/>\nIn a March 31 letter, the coalition of six UK digital economy trade bodies urged Starmer\u2019s special adviser on business and investment, Varun Chandra, for a \u201cgreater strategic focus and alignment to deliver investment, growth and jobs\u201d for the crypto industry.\u00a0<br \/>\nThe group, which consisted of the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, the Crypto Council for Innovation and techUK, noted the US policy shift on crypto under President Donald Trump and his appointment of a crypto czar.<br \/>\nBritain\u2019s commitment to an economic trade deal focused on technological cooperation with the US \u201cpresents a significant opportunity to mirror the United States\u2019 ambition in fostering leadership in blockchain, digital assets, and other emerging financial technologies,\u201d the letter stated.\u00a0<br \/>\nThe group recommended that the UK appoint a blockchain special envoy, similar to the US, to coordinate policy, foster innovation, and position the country competitively in global markets.<br \/>\nThe trade bodies also called for the development of a dedicated government action plan for crypto and blockchain technology, including a concierge service to attract high-potential firms.<br \/>\nThey added that the government should acknowledge and leverage the commonalities between blockchain, quantum computing and artificial intelligence technologies, including potential applications for government services.<br \/>\nAnother recommendation was to create a high-level industry-government-regulator engagement forum to ensure informed decision-making and cross-sector collaboration.<br \/>\nThe UK crypto and tech associations lobbying the government for a policy shift. Source: LinkedIn\u201cWith 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,\u201d they stated.\u00a0<br \/>\nRelated: UK should tax crypto buyers to boost stock investing, economy, says banker<br \/>\nThe coalition argues that crypto and blockchain technology could boost the UK economy by 57 billion British pounds ($73.6 billion) over the next decade, with the sector potentially increasing global gross domestic product by 1.39 trillion pounds ($1.8 trillion) by 2030.<br \/>\nTom Griffiths, the co-founder and managing partner of crypto compliance advisory firm BitCompli, said in response to the letter on LinkedIn that the Financial Conduct Authority \u201chas a lot of talent and a good sight of future plans, but the UK is definitely losing pace with Dubai, Singapore, and other EU jurisdictions.\u201d<br \/>\n\u201cNow is the time for the FCA to act, or the UK will lose out on this huge opportunity, which is digital assets and all the benefits this sector can bring, not only now but over the next 20 years,\u201d he added.<br \/>\nMagazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler\u2019s Digest, March 23 \u2013 29<a href=\"https:\/\/cointelegraph.com\/news\/uk-trade-bodies-want-crypto-made-strategic-priority?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSeveral British trade associations have asked Prime Minister Keir Starmer\u2019s office to appoint a special envoy dedicated to crypto and for a dedicated action plan for digital assets&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126287"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126287"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126287\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126287"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}