UK industry groups have called for the government to include blockchain and digital assets in the UK-US Tech Bridge, which may significantly improve financial relations between the two countries.
Digital Assets in the UK-US Tech Bridge
The UK Cryptoasset Business Council and other groups sent a joint letter to Business Secretary Peter Kyle and Economic Secretary Lucy Rigby urging support for digital innovation. They believe that excluding digital assets from collaboration would be a missed opportunity for the UK.
Financial Benefits of Inclusion
The inclusion of digital assets could unlock $3.159 trillion in market access for fintechs. An increase in capital inflows and improved liquidity is also anticipated, impacting assets such as BTC, ETH, and stablecoins.
Regulatory Context and Future of Digital Assets
Regulatory measures like the Cryptoassets Order 2025 promise to provide additional regulatory clarity, fostering an innovative environment for digital currencies. The expansion of the regulatory framework is expected to solidify the UK's global position in blockchain and digital asset markets.
The adoption of these measures could significantly enhance financial interactions between the UK and the US, opening up new opportunities for institutional investment in the digital asset market.
