UK urged to act now for £57B crypto growth by 2030 – Details here
The post UK urged to act now for £57B crypto growth by 2030 – Details here appeared on BitcoinEthereumNews.com.
UK trade bodies urged the government to act on crypto with a dedicated envoy for growth. The global crypto race intensifies, with the UK at risk of falling behind without clear government action. The U.S. crypto landscape under Donald Trump’s administration has set a precedent, sparking global debates on regulatory strategies. British trade associations have responded by urging Prime Minister Keir Starmer’s office to appoint a dedicated crypto envoy. UK shifts its focus on digital assets and blockchain In a letter written on the 31st of March, six UK digital economy trade bodies addressed Varun Chandra, Prime Minister Starmer’s business and investment adviser. They emphasized the need for a strategic focus on digital assets and blockchain to strengthen the UK’s position. Referring to the U.S. policy shift and its crypto czar, they highlighted the importance of fostering investment and innovation. The group also stressed the need to create jobs and boost confidence in the UK’s crypto industry. They wrote, “With the US, Singapore, UAE, and Hong Kong accelerating investment and government support in this space, the UK must remain proactive and competitive to attract businesses, talent, and capital.” The coalition highlighted the significant economic potential of the crypto sector, projecting that the UK economy could see a boost of £57 billion ($73.6 billion) over the next decade. In fact, by 2030, the industry’s influence could extend even further, contributing an estimated £1.39 trillion ($1.8 trillion) to the global GDP. Why is it important for the UK to take this step? In reply to the letter on LinkedIn, Tom Griffiths, Co-Founder and Managing Partner of BitCompli, a crypto compliance advisory firm, noted, “The Financial Conduct Authority has a lot of talent and a good sight of plans, but the UK is definitely losing pace with Dubai, Singapore, and other EU…
Filed under: News - @ April 2, 2025 11:29 pm