Charting the Future: The UK’s Path to Tech and Financial Leadership

Access to banking remains a major barrier for UK crypto/Web3 startups, with all surveyed companies reporting difficulties opening or maintaining bank accounts

Regulatory clarity and streamlined FCA processes are needed, particularly around registration and compliance for decentralized protocols versus centralized exchanges

The UK has strong foundational advantages including London as a financial center, common law framework, and government vision to become a crypto hub

Cross-party political support exists but more engagement is needed between industry and parliamentarians to shape effective policy and regulation

Education and skills development are crucial for building the digital workforce and ensuring UK competitiveness in blockchain/Web3

Stablecoins represent a key use case for improving payment efficiency and reducing settlement times

Need for better standards and engagement from large corporations to drive mainstream adoption

Tokenization opportunities extend beyond finance into healthcare records, land registry, carbon credits and other sectors

Current regulations often assume centralized control points which can discourage decentralized innovation

Industry needs to develop clear policy proposals and manifestos ahead of upcoming elections to maintain momentum