UK trade bodies have called on the government to place blockchain technology at the forefront of discussions with the United States ahead of U.S. President Donald Trump’s visit.
As reported by Bloomberg, a total of 12 groups from the finance, technology, and crypto sectors addressed a letter dated September 11 to UK Business Secretary Peter Kyle. In it, they urged that distributed ledger technology be a “core strand” of the proposed UK-US Tech Bridge.
The letter, also sent to Economic Secretary to the Treasury Lucy Rigby, was signed by organizations including the UK Cryptoasset Business Council, UK Finance, and TheCityUK.
The groups also emphasized the importance of stablecoins and tokenization, representing assets like bonds or stocks on blockchain ledgers, as critical sectors for both nations’ economies. They warned that excluding digital assets from the Tech Bridge would sideline the UK, especially as regions like the Middle East and Asia advance in setting global financial standards.
UK-US Tech Pact Pushed to Include Blockchain
Further, the Financial Times reported that the UK-US pact aims to foster partnerships in areas like AI and quantum computing, with Trump accompanied by tech leaders such as OpenAI’s Sam Altman and Nvidia’s Jensen Huang.
The UK has lagged behind the EU, the U.S., and parts of Asia in crypto regulation since former Prime Minister Rishi Sunak’s 2022 pledge to make the UK a crypto hub. The Financial Conduct Authority is developing crypto regulations, including for stablecoins and tokenization, with license applications expected next year.
In March, Chancellor Rachel Reeves discussed coordinating crypto regulation with US Treasury Secretary Scott Bessent. A government spokesperson noted the UK and the US can be natural partners with trillion-dollar tech sectors, collaborating on AI, quantum, and cybersecurity, but declined to comment on specific announcements.
The lobby groups cautioned that without coordinated action, UK firms risk facing fragmented regulations and reduced access to transatlantic markets.
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