UK trade bodies urge government to prioritize crypto and blockchain policy

A coalition of better business groups in the digital economy of the United Kingdom has urged legislators to intensify support for the assets of blockchain and digital by calling for an envoy and an action plan devoted to keeping the country competitive.

On March 31, six commercial organizations, including the UK Cryptoasset Business Council, Techuk, Global Digital Finance, the Payments Association, Digital Currency Gover Group and The Crypto Council for Innovation, wrote In Varun Chandra, the Prime Minister’s special advisor to business and investment.

They called for “greater strategic orientation and alignment to provide investments, growth and jobs” in the UK digital asset sector.

Citing “recent geopolitical events”, such as the election of President Donald TrumpThe groups have stressed that a global digital race is underway, while governments like Singapore, the United Arab Emirates and Hong Kong take place National strategies to attract blockchain companies. They warned that the United Kingdom had to remain flexible and proactive or risking late.

In the letter, the group proposed the appointment of a special envoy specific to the blockchain, similar to the American “crypto-tsar”, to coordinate policy, promote innovation and act as a global ambassador for the United Kingdom. They argued that this decision would point out a serious commitment to international investors and would help keep the country at the forefront of blockchain development.

The coalition has also urged the government to deploy a dedicated “government action plan” for blockchain and crypto. This would involve identifying the main areas of growth, providing public sector support and creating a concierge style service to help startups with high potential in the United Kingdom.

Above all, groups have underlined the need to recognize growth Synergy between blockchain, AIand quantum computer science. The coalition argues that taking advantage of the combined power of these technologies could unlock major progress of transparency, productivity and decentralization between industries.

In addition, to support Smart settlementThe letter recommended to create a high -level industry government regulation forum. This would guarantee the development of informed policies and a more avant-garde approach to the development of blockchain.

“Basins of deep talents of the United Kingdom, access to capital, world-class university institutions and sophisticated regulators” create an appropriate environment where “the innovation of the blockchain can prosper”, added the coalition.

Quoting research from PWC and the channel channel, the coalition estimates that blockchain could stimulate the country’s economy of 57 billion pounds in the next decade and contribute to 1.39 billion of sterling books in world GDP by 2030.

The letter closed with a call to a meeting to discuss the proposals.