British trade groups lobby for "British-American Technology Bridge" should cover blockchain technology

PANews September 12th news, 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 technological innovation cooperation agreement it signed with the United States. In a letter to British Commerce Secretary Peter Kyle on Thursday, more than a dozen groups representing the financial, technology and cryptocurrency sectors said distributed ledger technology should become the "core part" of the "British-American Technology Bridge." The letter, signed by representatives from groups such as the UK Crypto Assets Business Council, the UK Financial Industry Association and The CityUK, said: "Excluding digital assets from the British and American technology bridges will miss opportunities. When other countries — especially the Middle East and Asian countries — make progress in setting standards that shape the future of finance, the UK may be marginalized." The letter has also been sent to Secretary of Economic Affairs Lucy Rigby, whose office is usually responsible for overseeing the government's regulatory approach to cryptocurrencies. The letter emphasized that "stablecoins and asset tokenization are both strategically important areas for the economies of both countries. Without coordinated actions, British companies may face problems such as fragmented regulatory environments, reduced opportunities to enter the transatlantic market, and increased competitive pressure."