Lobby groups from the finance and technology sectors are intensifying their efforts to persuade the UK government to incorporate blockchain technology into an upcoming cooperation agreement with the United States. This appeal coincides with President Donald Trump’s scheduled visit to London, where he will be accompanied by prominent figures from the US tech industry.
In a letter addressed to Business Secretary Peter Kyle and Treasury Minister Lucy Rigby, over a dozen industry associations, including the UK Cryptoasset Business Council, UK Finance, and TheCityUK, emphasized the importance of making blockchain a “core strand” of the anticipated UK-US Tech Bridge. They cautioned that excluding digital assets could jeopardize the UK’s competitive standing in the rapidly evolving landscape of global financial innovation.
Recent reports from the Financial Times indicate that the UK and the US are on the brink of unveiling new collaborations in areas such as artificial intelligence (AI) and quantum computing. Trump, who has shown support for crypto assets during his term, is expected to discuss digital assets during his visit. Notably, his delegation includes notable figures like OpenAI CEO Sam Altman and Nvidia’s Jensen Huang.
A spokesperson for the UK government confirmed ongoing cooperation between the countries in AI, quantum technologies, and cybersecurity but refrained from commenting on potential new initiatives.
This lobbying initiative arises as the UK works to clarify its stance on cryptocurrency regulation. Former Prime Minister Rishi Sunak had previously vowed in 2022 to establish the UK as a leading hub for crypto asset technology. However, a comprehensive regulatory framework is yet to be established. The Financial Conduct Authority is currently engaging in consultations to develop new rules, with a timeline for licensing applications set to commence in 2026.
Industry representatives highlighted that stablecoins and tokenization are critically important to both economies. Stablecoins, which are linked to traditional fiat currencies and backed by reserve assets, have begun to gain traction in mainstream finance following new US legislation signed by Trump in July. Moreover, tokenization—which involves recording assets like bonds or equities on blockchain ledgers—has been recognized as a vital innovation for financial markets.
Earlier this year, Chancellor Rachel Reeves announced that the UK would collaborate with the US on cryptocurrency regulations after discussions with Treasury Secretary Scott Bessent. However, industry groups are now expressing concerns that without regulatory alignment, businesses may encounter obstacles when operating in transatlantic markets.
As the lobbying efforts continue, there are growing concerns regarding the prioritization of blockchain technology alongside AI and quantum technologies in shaping the future of UK-US technological cooperation.
