Published in co-ordination with the Digital Economy Initiative, the Adam Smith Institute’s Future Markets Policy Unit presents an analysis of President Donald J Trump’s potential impact on digital assets in the UK.

The landscape of digital assets is undergoing significant transformations globally, driven by advancements in blockchain technology and evolving regulatory frameworks. The United Kingdom, a historical leader in financial services, has emerged as a key player in the digital asset market, ranking among the top nations in cryptocurrency transaction volume and blockchain innovation. However, the global competitive dynamics are shifting, particularly in light of recent policy changes in the United States under the Trump administration, which has adopted a markedly pro-crypto stance. This paper explores the implications of these developments for the UK, analysing its current position, the challenges it faces, and the opportunities it must seize to maintain and enhance its leadership in the rapidly growing digital asset ecosystem. It underscores the urgency for the UK to enact comprehensive regulatory reforms and leverage its legacy advantages to stay ahead in this pivotal sector.