UK trade groups urge the UK government to include blockchain technology in the "Tech Bridge" cooperation with the United States.
Twelve UK trade groups representing the finance, technology, and cryptocurrency sectors made this request in a joint letter, which Cointelegraph has seen, addressed to UK Business Secretary Peter Kyle and Economic Secretary to the Treasury Lucy Rigby.
According to the document, distributed ledger technology should be a "core component" of UK-US tech cooperation, a proposal made ahead of US President Trump's visit next week.
This initiative comes after Trump embraced blockchain technology and cryptocurrencies during his second term. The letter states, "Excluding digital assets from the UK-US Tech Bridge would be a missed opportunity," and adds:
The authors of the letter include the UK Crypto Assets Business Council (UKCBC), the UK Finance Association, and TheCityUK. The document emphasizes the importance of distributed ledger technology, noting that it "represents a technological transformation," and adds:
UKCBC Executive Director Simon Jennings told Cointelegraph that the trade group aims to "establish a transatlantic corridor for stablecoin payments" between the two countries. Other goals include jointly supporting the "tokenization of traditional financial instruments" and developing "deep liquidity in the transatlantic crypto asset market."
Jennings stated that Trump has confirmed his attendance, despite rumors that the visit may be canceled or postponed due to the funeral of Charlie Kirk. Kirk was an ally of Trump and a conservative influencer who was assassinated earlier this week during a debate at a university in the US. He said:
Similar initiatives have recently emerged in the UK. Earlier this month, a public petition calling for a supportive innovation strategy for blockchain and stablecoins gained additional momentum after cryptocurrency exchange Coinbase pushed notifications to its users.
According to a report from August, a quarter of UK adults are open to using cryptocurrencies in retirement plans.
For those less tech-savvy, accessing cryptocurrencies may soon become easier, as UK financial regulators have lifted the ban on retail investors purchasing cryptocurrency exchange-traded notes, which will take effect from October 8.
Related: Bank of England's stablecoin holding limit plan criticized by UK cryptocurrency groups
Original article: “UK trade groups urge government to include blockchain in tech cooperation with the US”
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