Lobby groups from the finance and technology sectors
are pressing the UK government to ensure blockchain is included in a planned
cooperation deal with the United States, Bloomberg reported.
The calls come ahead of President Donald Trump’s visit
to London next week, where he will be accompanied by senior US tech executives.
Blockchain on the Agenda
In a letter to Business Secretary Peter Kyle and
Treasury Minister Lucy Rigby, more than a dozen associations urged the
government to make blockchain a “core strand” of the so-called UK-US Tech
Bridge.
The groups, which include the UK Cryptoasset Business
Council, UK Finance, and TheCityUK, said leaving digital assets out would risk
sidelining Britain in global financial innovation.
“Excluding digital assets from the UK-US Tech Bridge
would be a missed opportunity,” the letter said. “It risks leaving Britain on
the sidelines while others — particularly in the Middle East and Asia — move
ahead in setting the standards that will shape the future of finance.”
According to the Financial Times, the UK and the US are preparing to announce new partnerships in artificial intelligence and quantum computing. Trump, who has backed crypto assets during his second term, is
expected to raise digital assets during his state visit. His delegation
includes OpenAI’s Sam Altman and Nvidia’s Jensen Huang.
A UK government spokesperson confirmed that both countries already cooperate on AI, quantum, and cybersecurity, but declined to comment on possible new initiatives.
The Regulatory Landscape
The lobbying push comes as the UK seeks to define its
approach to crypto regulation. Former Prime Minister Rishi Sunak pledged in
2022 to make the UK a hub for crypto asset technology, but a comprehensive
framework has yet to emerge. The Financial Conduct Authority is consulting on
new rules, with licensing applications expected to open in 2026.
The groups pointed to stablecoins and tokenization as
strategically important for both economies. Stablecoins, pegged to traditional
currencies and backed by reserve assets, are entering mainstream finance
following Trump’s signing of new US legislation in July.
Tokenization, which places assets such as bonds or
equities on blockchain ledgers, has been identified as a key innovation for
financial markets.
In March, Chancellor Rachel Reeves confirmed the UK
would work with the US on crypto regulation after talks with Treasury Secretary
Scott Bessent. Industry groups now warn that without alignment, firms could
face barriers to operating across transatlantic markets.
The pressure adds to questions over whether blockchain
will be given equal footing with AI and quantum in shaping the future of UK-US
technological cooperation.
Lobby groups from the finance and technology sectors
are pressing the UK government to ensure blockchain is included in a planned
cooperation deal with the United States, Bloomberg reported.
The calls come ahead of President Donald Trump’s visit
to London next week, where he will be accompanied by senior US tech executives.
Blockchain on the Agenda
In a letter to Business Secretary Peter Kyle and
Treasury Minister Lucy Rigby, more than a dozen associations urged the
government to make blockchain a “core strand” of the so-called UK-US Tech
Bridge.
The groups, which include the UK Cryptoasset Business
Council, UK Finance, and TheCityUK, said leaving digital assets out would risk
sidelining Britain in global financial innovation.
“Excluding digital assets from the UK-US Tech Bridge
would be a missed opportunity,” the letter said. “It risks leaving Britain on
the sidelines while others — particularly in the Middle East and Asia — move
ahead in setting the standards that will shape the future of finance.”
According to the Financial Times, the UK and the US are preparing to announce new partnerships in artificial intelligence and quantum computing. Trump, who has backed crypto assets during his second term, is
expected to raise digital assets during his state visit. His delegation
includes OpenAI’s Sam Altman and Nvidia’s Jensen Huang.
A UK government spokesperson confirmed that both countries already cooperate on AI, quantum, and cybersecurity, but declined to comment on possible new initiatives.
The Regulatory Landscape
The lobbying push comes as the UK seeks to define its
approach to crypto regulation. Former Prime Minister Rishi Sunak pledged in
2022 to make the UK a hub for crypto asset technology, but a comprehensive
framework has yet to emerge. The Financial Conduct Authority is consulting on
new rules, with licensing applications expected to open in 2026.
The groups pointed to stablecoins and tokenization as
strategically important for both economies. Stablecoins, pegged to traditional
currencies and backed by reserve assets, are entering mainstream finance
following Trump’s signing of new US legislation in July.
Tokenization, which places assets such as bonds or
equities on blockchain ledgers, has been identified as a key innovation for
financial markets.
In March, Chancellor Rachel Reeves confirmed the UK
would work with the US on crypto regulation after talks with Treasury Secretary
Scott Bessent. Industry groups now warn that without alignment, firms could
face barriers to operating across transatlantic markets.
The pressure adds to questions over whether blockchain
will be given equal footing with AI and quantum in shaping the future of UK-US
technological cooperation.
