UK Trade Associations Call for Crypto Envoy and Action Plan

In a letter addressed to Varun Chandra , Starmer’s special adviser on business and investment, six prominent UK digital economy organizations emphasized the need for a more coordinated strategy to drive investment, economic growth, and job creation within the crypto industry. The signatories included the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, the Digital Currencies Governance Group, the Crypto Council for Innovation, and techUK.

Pointing to recent developments in the U.S., such as former President Donald Trump’s crypto-friendly policies and the appointment of a “crypto czar,” the coalition warned that the UK risks falling behind in the race to harness the potential of digital assets. To ensure the UK remains competitive on the global stage, the group urged the government to appoint a blockchain-focused envoy to lead policy coordination, foster innovation, and strengthen the country’s position in the global fintech market.

In addition, the coalition recommended the development of a national action plan dedicated to the advancement of crypto and blockchain technologies. This plan should include a government-backed concierge service aimed at attracting high-potential startups and projects. The group also highlighted the importance of recognizing the synergies between blockchain, artificial intelligence, and quantum computing, especially in enhancing public sector services.

Recognizing the UK’s advantages, the group underscored its strong talent pools, access to capital, top-tier universities, and robust regulatory frameworks, which position the country to lead in the blockchain and digital assets space. The coalition estimates that embracing the sector could contribute as much as £57 billion ($73.6 billion) to the UK economy over the next decade, with the global blockchain and crypto industries potentially adding £1.39 trillion ($1.8 trillion) to global GDP by 2030.

Meanwhile, Lisa Gordon, chair of Cavendish investment bank, has suggested that the UK introduce a tax on cryptocurrency purchases to encourage greater investment in local equities. In a March 23 report by The Times, Gordon expressed concern about the growing preference for crypto among younger generations, warning that a shift toward equities could stimulate much-needed economic growth.

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