3-4-2025 – British trade organisations have mounted a compelling appeal to Prime Minister Keir Starmer’s administration, advocating for the appointment of a dedicated cryptocurrency envoy.
The collective voice of six prominent UK digital economy bodies resonated through Whitehall in a late March missive to Varun Chandra, the Prime Minister’s business and investment counsel. Their unified message underscored Britain’s pressing need to cement its position in the burgeoning blockchain and digital asset landscape.
The economic implications are striking, with projections suggesting the sector could inject $57 billion into Britain’s economy over the upcoming decade. The global picture appears even more dramatic, with estimates pointing to a $1.39 trillion contribution to worldwide GDP by 2030.
BitCompli’s co-founder Tom Griffiths offered a stark assessment of Britain’s current trajectory. While acknowledging the Financial Conduct Authority’s capabilities, he pointed to an emerging gap between the UK and rival financial hubs such as Dubai and Singapore.
The Trump administration’s approach to cryptocurrency regulation in America has established influential precedents, sparking worldwide discourse on regulatory frameworks. This backdrop has intensified pressure on Britain to define its position clearly.
Whilst some nations chart bold courses forward, others maintain reserved positions. Russia has proposed limiting cryptocurrency transactions within specific legal parameters, while South Korea and Japan display measured scepticism towards incorporating Bitcoin into their foreign exchange holdings. The Swiss and European Central Bank authorities similarly maintain cautious stances.
Despite Britain’s initiatives in central bank digital currency development and blockchain integration within financial services, industry experts argue these steps, while positive, fall short of the comprehensive strategy required. The coalition’s correspondence highlighted the competitive imperative, noting the aggressive pursuit of cryptocurrency opportunities by the United States, Singapore, UAE, and Hong Kong.
