UK Industry Groups Push for Blockchain in US Tech Collaboration: Bloomberg

The UK is stepping up its focus on crypto and digital finance as it builds closer ties with the US. Industry groups are now pushing for digital assets to play a central role. 

According to a report from Bloomberg, UK trade groups are urging the government to make blockchain a key part of future tech collaboration with the US. In a letter to Business Secretary Peter Kyle, organizations from finance, tech, and crypto called for distributed ledger technology to be a “core strand” of the proposed “UK-US Tech Bridge.”

Industry Groups Push for Digital Assets

Industry groups say that excluding digital assets in the UK-US Tech Bridge would be a missed opportunity.

The letter was signed by representatives from groups such as the Cryptoasset Business Council, UK Finance, and TheCityUK. It was also sent to Lucy Rigby, the UK’s Economic Secretary to the Treasury, who oversees the government’s approach to crypto.

A government spokesperson has also said that the UK and US are “natural partners” with huge tech sectors and already work together on AI, quantum, and cybersecurity.

US-UK Crypto Talks

This comes as President Trump prepares for an upcoming visit to the UK, along with top tech figures like OpenAI’s Sam Altman and Nvidia’s Jensen Huang. The lobby groups also warned that without coordinated action, UK firms could face fragmented regulations, reduced access to transatlantic markets, and tough competition. 

Key Areas of Growth

The letter highlighted stablecoins and tokenization are key growth areas for both economies.

Tokenization has been emerging as a hot topic lately with experts predicting that eventually all assets will move onchain. While interest in stablecoin is also growing, especially after the US passed landmark stablecoin legislation in July.

UK Prepares New Crypto Rules, Lifts cETN Ban

Nevertheless, the UK’s Financial Conduct Authority is working on a new regulatory framework for crypto, with plans to start accepting license applications next year. The rules will cover stablecoins, tokenization, and crypto trading.

The UK is also looking to work more closely with the US on crypto rules. Coinpedia previously reported that in a June meeting, U.S. and U.K. officials talked about regulating digital assets and stablecoins. They also discussed the UK’s Digital Securities Sandbox and ways to improve cross-border payments.

In a major shift, UK retail investors will be allowed to buy crypto exchange-traded notes (cETNs) again starting October 2025, under FCA-approved platforms, after a 4-year ban.

Smarter Web Plans Expansion

Meanwhile, the UK’s largest corporate Bitcoin holder is eyeing expansion through acquisitions.

The Smarter Web Company, led by CEO Andrew Webley, is considering buying struggling competitors to grow its Bitcoin treasury at a discount. It currently holds 2,470 BTC worth nearly $275 million. The firm also aims to be in the FTSE 100 in 2-3 years.