Signatories are calling for a national strategy, a blockchain envoy, and a formal industry-government forum to boost innovation and investment
A coalition of six leading UK trade associations is urging Prime Minister Keir Starmer’s government to prioritize crypto and blockchain policy through a coordinated national strategy.
In a letter published yesterday on LinkedIn by the UK Cryptoasset Business Council (UKCBC), the group warned that “without decisive action, we risk falling behind” as the U.S., Singapore, UAE, and Hong Kong accelerate government support for digital assets.
“The UK must remain proactive and competitive to attract businesses, talent, and capital,” the UKCBC added.
Four priorities to strengthen UK blockchain leadership
In the letter, the coalition outlined four concrete steps the government should take to secure the UK’s position as a global hub for blockchain and digital assets.
At the top of the list is the appointment of a blockchain special envoy to coordinate policy across departments, foster innovation, and represent the UK internationally.
The group also called for the development of a comprehensive national action plan. This would include a concierge-style service to attract high-growth startups, explore public sector use cases, and position the UK brand in the global fintech market.
Beyond structural reform, the letter emphasized the need to embrace the convergence of blockchain, artificial intelligence, and quantum computing. The coalition said these technologies will “profoundly influence the future landscape of technology, finance, and defence”.
Finally, the coalition recommended establishing a formal forum that brings together government, regulators, and industry stakeholders to improve coordination and ensure informed, forward-thinking policy development.
“No single government department has clear ownership of blockchain’s advancement,” the letter noted.
“A dedicated special envoy would bridge this gap […] and create a structured feedback loop between government and industry.”
Economic impact estimates highlight what’s at stake
The coalition cited data from PwC projecting that blockchain technology could add up to £57 billion to the UK economy over the next decade, with the public sector poised to benefit most. Globally, the technology is expected to contribute £1.39 trillion to GDP by 2030.
Between July 2023 and June 2024, the UK saw £172 billion in on-chain transactions, making it the largest digital asset economy in Central, Northern, and Western Europe, according to research referenced in the letter.
Despite this activity, only 8% of global venture funding in crypto-related firms went to the UK.
The group also argued that Britain’s legal framework, access to capital, and academic institutions give it a strong foundation, but that strategic inaction could erode that advantage.
“Without decisive action, we risk jurisdictions like the US, Singapore and Hong Kong stealing a march.”
