Economic Secretary to the Treasury speech for UK Digital Assets Week
The UK’s Economic Secretary to the Treasury outlined the government’s ambition to lead in digital assets, framing the shift from electronic to digital markets as transformative for finance and calling for swift, ambitious action.
The Economic Secretary to the Treasury opened UK Digital Assets Week by contrasting the Crown Jewels with digital assets, asserting that digital technologies will shape the country’s future prosperity and that the UK is ready to lead this change globally. She framed the transition from electronic to digital markets as a fundamental shift in financial infrastructure, comparable to the move from paper to electronic trading in past decades. The speech emphasised that digitalisation is not merely an incremental improvement but a reimagining of finance, including new forms of money, improved payments, and greater market competition and innovation. The government’s role, she said, is to provide regulatory clarity and safeguards while enabling firms, investors, and entrepreneurs to deploy capital and build the markets of the future.
The Economic Secretary highlighted the importance of international collaboration, noting the UK’s upcoming G20 presidency in 2027 as a key opportunity to align global approaches and avoid fragmented markets in digital assets. She stressed that the UK’s success depends on a partnership between regulators and industry, with regulators ensuring confidence and safeguards while firms drive innovation and competition. The speech underscored that the UK’s ambition is not just rhetorical but backed by concrete policy actions and strategic planning. She also positioned the UK as uniquely positioned to lead due to its historical role in financial markets and its commitment to technological advancement.
The Economic Secretary pointed to the UK’s Wholesale Financial Markets Digital Strategy, published the previous year, as a cornerstone of its approach, designed to optimise, transform, and lead in digital financial markets. She described the strategy as a substantive step toward realising the UK’s vision for digital assets, reflecting a commitment to modernising financial infrastructure. The speech framed the strategy as part of a broader effort to ensure the UK remains at the forefront of global financial innovation. She also noted that the strategy aligns with the government’s broader economic goals, including fostering growth and maintaining the UK’s competitive edge.
She concluded by reaffirming the UK’s readiness to shape the future of digital assets, calling for rapid and ambitious action to capitalise on the opportunities presented by technological change. The speech positioned the UK as a leader in digital financial markets, with a clear roadmap and the political will to execute it. She also highlighted the need for continued collaboration with international partners to ensure coherent global standards and avoid regulatory fragmentation. The Economic Secretary’s remarks underscored the UK’s proactive stance in embracing digital assets as a driver of future prosperity.