UK Considers ‘Crypto Tsar’ to Head Up Regulation

Some legislators are hoping to get bills drafted and passed within the next two years

article-image

Mc_Cloud/Shutterstock modified by Blockworks

share

As the European Union was busy passing landmark policy to bring crypto markets under government regulation, some lawmakers in the United Kingdom are ramping up demands for urgent action. 

When the EU moved forward with its Markets in Crypto Assets (MiCA) regulation, the UK only fell further behind, putting the country at risk of missing out on innovation and jeopardizing its chance at becoming a global leader in the space. 

“With the adoption of MiCA, the EU has solidified its position as a regulatory leader for years to come,” local crypto advocacy group Crypto UK said in April. 

Some UK leaders are trying to start the conversation around digital asset regulation with the hopes of getting bills drafted and passed within the next two years. 

The UK’s All Party Parliamentary Group for Crypto and Digital Assets released a report Monday calling for a crypto legislative package to pass immediately. The multiparty group is chaired by Scottish National Party member Lisa Cameron. 

Monday’s report sets a deadline of 2025 for crypto regulation in the UK and advocates for a “crypto tsar,” who will be responsible for coordinating efforts across regulatory groups. 

The Scottish National Party has historically been on the forefront of crypto asset regulation advocacy, first suggesting a type of central bank digital currency in 2015. Cameron herself is a self-titled crypto advocate, she said earlier this month, and has been more urgently trying to get policy through since the 2022 crypto market crash.

The crypto and digital asset parliamentary group was established in January 2022 with the mission to support innovation while protecting consumers, CryptoUK said

Cameron and her fellow group members are not the only UK regulators considering crypto policy. 

In an April speech, Financial Conduct Authority executive director of markets Sarah Pritchard noted that even the recent chaos in crypto markets has not stopped investors from engaging with the asset class, so lawmakers need to act swiftly. 

“Despite the recent crypto winter, where massive losses were sustained, the take up of crypto is on the rise year-on-year,” Pritchard said. “With more consumers and investors piling in, the risks also grow exponentially in our interconnected systems. That is why things have to change.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Despite ending its points program, Hyperliquid has maintained a dominant market position with 77% of perpetuals DEX volumes, though overall volume has decreased from early 2025. It is the only DEX that has been able to compete with CEX volumes. Hyperliquid's success stems primarily from rapid, relevant token listings and superior UX for users and market makers, particularly its API - which is how market makers interact with the protocol. The controversial oracle price override during the JELLY incident exposed risks in the Hyperliquid Liquidity Pool (HLP), though the team has since implemented risk management adjustments. The HyperEVM is currently underoptimized and lacks necessary precompiles, but represents an important strategic expansion to enable asset issuance and DeFi composability.

article-image

Securitize announced it acquired a crypto-focused fund administration firm

article-image

ETH’s success hinges on the resource of data availability, particularly how much it sells to L2s

article-image

Solayer’s Emerald Card integrates SolanaID so users can build their “onchain reputation.”

article-image

In 2011, bitcoin blew past the one-dollar event horizon and never looked back

article-image

Sponsored

Transferability of WCT brings the onchain economy closer to a more open, permissionless, and community-driven experience

article-image

Taking a look at the biggest stablecoin players and where they stand