A coalition of prominent UK digital economy trade groups has rallied together to urge the government to enhance support for blockchain and digital assets. In a recent letter addressed to Varun Chandra, the Prime Minister’s special adviser on business and investment, six trade bodies, including the UK Cryptoasset Business Council, techUK, and Global Digital Finance, expressed the urgent need for a dedicated envoy and a comprehensive action plan to keep the UK competitive in the evolving digital landscape.
On March 31, 2025, the coalition highlighted the necessity of “greater strategic focus” and alignment to deliver investment, growth, and jobs in the UK’s burgeoning digital asset sector. The coalition emphasized that recent geopolitical events, such as elections and technological advancements, signify a global race in digital innovation. Countries like Singapore, the UAE, and Hong Kong have initiated national strategies to attract blockchain businesses, prompting concerns that the UK must remain proactive to avoid falling behind.
The letter proposed appointing a blockchain-specific special envoy, akin to the US’s “crypto czar.” This role would be pivotal in coordinating policy, fostering innovation, and promoting the UK as a global leader in blockchain development. By making this commitment, the coalition asserts that it would not only signal readiness to international investors but also enhance cooperation between industry stakeholders.
Furthermore, the trade groups called for the implementation of a tailored Government Action Plan for blockchain and cryptocurrency. This plan should focus on identifying key growth areas, offering public sector support, and establishing a concierge-style service to assist high-potential startups in scaling their operations within the UK.
Recognizing the interconnectedness of blockchain, artificial intelligence, and quantum computing, the coalition advocates for leveraging these technologies collaboratively. The transition towards a cutting-edge, transparent, and decentralized economy could yield significant advancements across various sectors.
As part of their recommendations for effective regulation, the coalition emphasized the significance of creating a high-level forum that includes industry leaders, government officials, and regulatory bodies. This collaborative platform would facilitate cross-sector collaboration and enable informed policymaking, ensuring a more progressive approach to blockchain development.
According to research from PwC and Chainalysis, embracing blockchain technology may significantly bolster the UK’s economy, contributing an estimated £57 billion over the next decade and supporting £1.39 trillion in global GDP by 2030. The coalition concluded their letter with a call for a meeting to discuss their proposals, affirming the UK’s wealth of talent and investment opportunities as a fertile ground for blockchain innovation.
