UK trade groups lobby for blockchain technology to be included in UK-US tech bridge

PANews reported on September 12th that, according to Bloomberg, on the eve of US President Trump's visit to the UK next week, British trade groups urged the government to include blockchain technology in any scientific and technological innovation cooperation agreement it signs with the United States. In a letter to British Business Secretary Peter Kyle on Thursday, more than a dozen groups representing the financial, technology, and cryptocurrency sectors said that distributed ledger technology should be a "core part" of the "UK-US Technology Bridge."

The letter, signed by representatives of the UK Crypto Assets Business Council, the UK Finance Association, and The CityUK, among others, stated: "Excluding digital assets from the UK-US tech bridge would be a missed opportunity. While other countries, particularly in the Middle East and Asia, make progress in developing the standards that will shape the future of finance, the UK risks being left behind." The letter was also sent to Economic Secretary Lucy Rigby, whose office typically oversees the government's regulatory approach to cryptocurrencies. The letter emphasized that "stablecoins and asset tokenization are strategically important areas for both economies. Without coordinated action, UK businesses risk facing a fragmented regulatory environment, reduced access to transatlantic markets, and increased competitive pressure."