The leading trading groups in the UK called on local lawmakers to strengthen the support of the blockchain and digital assets, as well as to appoint a “crypto -core” to maintain the country’s competitiveness.

UK Cryptosset Business Council, Techuk, Global Digital Finance, The Payments Association, Digital Currencies Governance Group and Crypto Council for Innovation sent a joint A letter to the special adviser to the Prime Minister for Business and Investment Varun Chandra. The authors of the letter consider it important that the British authorities develop a state strategy for the development of business in the field of blockchain and cryptocurrencies.

This should attract foreign investments to the country and increase jobs. Singapore, the UAE and Hong Kong actively create the conditions for the development of crypto business, so the UK should also be open to the latest technologies, otherwise the country risks leaving other states, the authors of the letter say. They proposed to appoint a “special settlement”, which will lead the creation of a regulatory framework for digital currencies, by analogy with the post of “crypto-core”, which recently appeared in the United States. It is occupied by David Sacks, co -founder and general partner of Craft Ventures.

Trade groups also called on the government to develop a special action plan to support cryptocurrency startups so that it was easier for them to scale their business in the UK. The circulation emphasizes the growing relationship between blockchain, artificial intelligence (AI) and quantum calculations. By combining their potential, it is possible to increase the transparency of work and performance in different sectors, making them more decentralized. However, in order to create adequate regulation rules, the authorities should discuss them directly with the participants in the industry, the letter is indicated.

Recently, the British Ministry of Finance said that the country would not follow the example of the United States and would not create a strategic reserve in bitcoins. Great Britain prefers more predictable and stable assets, such as gold and fiat currencies.