UK trade bodies are pressing Prime Minister Keir Starmer to prioritize cryptocurrency, projecting a potential £57 billion boost to the UK economy by 2030. Citing the U.S.’s proactive crypto policies under Donald Trump, they advocate for a dedicated crypto envoy to foster investment and innovation.
In a letter addressed to Varun Chandra, Starmer’s business and investment adviser, six UK digital economy trade bodies emphasized the need for a strategic focus on digital assets and blockchain technologies. The letter, dated March 31, 2025, stressed the importance of attracting businesses, talent, and capital to the UK’s crypto industry.
The trade bodies stated, “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 estimates the crypto sector could contribute £1.39 trillion to the global GDP by 2030. Tom Griffiths, Co-Founder and Managing Partner of BitCompli, responded to the letter on LinkedIn, noting that the UK is losing pace with Dubai, Singapore, and EU jurisdictions.
Griffiths added, “Now is the time for the FCA to act or the UK will lose out on this huge opportunity, which is digital assets and all the benefits this sector can bring, not only now but over the next 20 years.” Despite ongoing initiatives, industry leaders are calling for more decisive action from the UK government.
While the U.S. is advancing with its Strategic Bitcoin Reserve plan, influenced by former President Trump, other nations exhibit caution. Russia is considering banning cryptocurrency settlements outside its Experimental Legal Regime, while South Korea and Japan remain hesitant about adding Bitcoin to their foreign exchange reserves.
Switzerland and the European Central Bank are also maintaining a cautious stance toward Bitcoin’s role in national reserves.