A coalition of top UK digital economy trade groups has urged lawmakers to step up support for blockchain and digital assets by calling for a dedicated envoy and action plan to keep the country competitive.
On 31 March, six trade bodies, including the UK Cryptoasset Business Council, techUK, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, and the Crypto Council for Innovation, wrote to Varun Chandra, the Prime Minister’s special adviser on business and investment.
They called for “greater strategic focus and alignment to deliver investment, growth and jobs” in the UK’s digital asset sector.
Citing “recent geopolitical events,” like the election of President Donald Trump, the groups stressed a global digital race is underway, as governments like Singapore, the UAE, and Hong Kong roll out national strategies to attract blockchain businesses. They warned the UK must stay flexible and proactive or risk falling behind.
In the letter, the group proposed the appointment of a blockchain-specific special envoy, similar to the US’s “crypto czar,” to coordinate policy, foster innovation, and act as a global ambassador for the UK. They argued this move would signal a serious commitment to international investors and help keep the country at the forefront of blockchain development.
The coalition also urged the government to roll out a dedicated ‘Government Action Plan’ for blockchain and crypto. This would involve identifying key growth areas, providing public sector support, and creating a concierge-style service to help high-potential startups scale in the UK.
Importantly, the groups stressed the need to recognise the growing synergy between blockchain, AI, and quantum computing. The coalition argues that leveraging the combined power of these technologies could unlock major advances in transparency, productivity, and decentralisation across industries.
Further, to support smart regulation, the letter recommended creating a high-level industry-government-regulator forum. This would ensure cross-sector collaboration, informed policymaking, and a more forward-thinking approach to blockchain development.
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,” the coalition added.
Citing research from PwC and Chainalysis, the coalition estimates blockchain could boost the country’s economy by £57 billion over the next decade and contribute to £1.39 trillion in global GDP by 2030.
The letter closed with a call for a meeting to discuss the proposals.
