UK trade bodies urge government to make crypto a ‘strategic priority’

Odaily Planet Daily News: Six digital economy trade organizations in the UK recently wrote to Varun Chandra, special adviser to the Prime Minister, calling on the government to appoint a special envoy for blockchain and crypto assets and develop a dedicated action plan to promote investment, growth and employment in the industry. The alliance pointed out that the United States has established a head of crypto affairs under the Trump administration and increased investment in crypto policies. It is suggested that the UK can seize global competition opportunities and establish a leading position in digital assets and financial technology with the help of the economic and trade agreement with the United States on scientific and technological cooperation. In addition, the letter also suggested the establishment of a high-level government-industry-academia coordination mechanism, the establishment of exclusive guidance services to attract potential enterprises, and emphasized that the government should attach importance to the synergy potential between blockchain, quantum computing and artificial intelligence technologies. The alliance believes that encryption and blockchain technology is expected to contribute 57 billion pounds to the UK economy in the next decade and bring up to 1.39 trillion pounds to global GDP. BitCompli co-founder Tom Griffiths said on LinkedIn that although the UK Financial Conduct Authority (FCA) has talent and planning, the UK is lagging behind Dubai, Singapore and other places. Now is the critical time for the FCA to act, so as not to miss the long-term development opportunities brought by digital assets. (Cointelegraph)