- UK trade bodies beg 🙏 the government to jump on the crypto bandwagon with a dedicated envoy for growth.
- The global crypto race heats up! The UK risks being left in the dust unless the gov acts now.
Remember when the U.S. went all in on crypto during Trump’s reign? It’s causing quite the stir worldwide, making everyone question their regulatory tactics. 🤔
British trade associations aren’t staying silent! They’ve rallied together, demanding Prime Minister Keir Starmer’s attention to appoint a crypto champion.
UK’s Digital Assets & Blockchain Makeover: It’s On!
On March 31st, six digital economy trade groups penned a letter to Varun Chandra, Starmer’s biz and investment guru. Their message? The UK needs to get serious about digital assets and blockchain to stay ahead. 💪
They pointed out the U.S.’s crypto czar and the importance of nurturing investment and innovation. Jobs, confidence, and the UK’s crypto scene need a boost! 🚀
They wrote,
“With the US, Singapore, UAE, and Hong Kong revving their engines, the UK must put the pedal to the metal to keep up and attract businesses, talent, and capital.”
The crypto sector’s potential is massive, folks! By 2030, the UK could rake in £57 billion ($73.6 billion), and globally, we’re talking £1.39 trillion ($1.8 trillion). 💰💰💰
Why Should the UK Care About This?
Tom Griffiths, Co-Founder & Managing Partner of BitCompli, chimed in on LinkedIn:
“The FCA has got some brainpower, but the UK is slipping behind Dubai, Singapore, and other EU players.”
He continued,
“It’s high time for the FCA to step up or watch the UK miss out on the digital asset bonanza and all its perks for the next two decades.”
While digital assets gain traction, the UK gov is still on the fence about giving crypto the ‘strategic’ label. 💡
Initiatives like a central bank digital currency and blockchain integration in finance are a start, but industry bigwigs want bolder moves. 🎯
What Are Other Countries Doing About Crypto?
The U.S. is going all out with their Strategic Bitcoin Reserve, thanks to Trump’s influence. But, not everyone’s jumping on board. 😕
Russia wants to ban crypto settlements outside the Experimental Legal Regime, tightening the reins on digital transactions. 🇷🇺
South Korea and Japan are hesitant about adding Bitcoin to their forex reserves, playing it safe. 🇰🇷🇯🇵
Switzerland and the ECB are also cautious about Bitcoin’s role in national reserves. 🇨🇭🇪🇺
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2025-04-03 02:20