Many British trade associations have asked the office of prime minister Keir Starmer to appoint a special crypto -focused envoy and for a dedicated action plan for digital assets and blockchain technology.
On a March 31 LetterThe coalition of six UK digital bodies of economic trade bodies has encouraged Starmer’s special counselor in business and investment, Varun Chandra, for a “wider strategic focus and alignment to deliver investment, growth and work” for the crypto industry.
The group, consisting of the UK Cryptoasset Business Council, Global Digital Finance, The Payment Association, Digital Currencies Governance Group, the Crypto Council for Innovation and Techuk, mentioned US crypto change in the crypto under President Donald Trump and his A appointment of A A Crypto Czar.
Britain’s promise of an economic trade deal dedicated to technological cooperation with the US “presents a significant opportunity to reflect the US ambition in strengthening blockchain leadership, digital assets, and other emerging financial technologies,” the letter said.
The group recommends the UK to assign a special blockchain envoy, similar to the US, to adjust the policy, care for change, and Position the country Competitively in the global market.
Trade bodies also called for the development of a dedicated government action plan for crypto and blockchain technology, including a concierge service to attract high potential companies.
They added that the government should recognize and use similarities between blockchain, computing quantity and Technologies of artificial intelligenceincluding potential applications for government services.
Another recommendation is to create a high-level industry-government-regulator contact with the forum to ensure the decision-making knowledge and cooperation of the cross-sector.
The UK crypto and tech association launches the government for a policy shift. Source: LinkedIn
“In the deep pool of talent, access to capital, academic classic institutions, and sophisticated regulators, the UK provides an environment where digital properties and changes of blockchain can develop,” they said.
Related: The UK should tax crypto buyers to boost stock investment, economy, Banker says
The coalition argues that crypto and blockchain technology can boost the UK economy through 57 billion British pounds ($ 73.6 billion) over the next decade, with a sector that potentially increase the global gross domestic product by 1.39 trillion pounds ($ 1.8 trillion) of 2030.
Tom Griffiths, co-founder and Crypto partner management compliance with the Advisory Firm Bitcompli, Says In response to a letter to LinkedIn that the financial conduct authority is “many talents and a good sight of future plans, but the UK is certainly losing its pace in Dubai, Singapore, and other EU constituents.”
“Now is the time for the FCA to act, or the UK will be lost in this great opportunity, which is digital ownership and all the benefits this sector can bring, not only today but in the next 20 years,” he added.
Magazine: The bitcoin ath earlier than expected? XRP can drop 40%, and more: Hodler’s Digest, March 23 – 29
