According to a statement released on Tuesday, CryptoUK will join forces with the Digital Chamber under a unified advocacy platform. This move marks a pivotal moment for both groups, which have been influential in shaping favorable policies for the cryptocurrency and blockchain sectors in their respective regions. The Digital Chamber, established in 2014, and CryptoUK, founded in 2018, are committed to driving policy-led initiatives, fostering member collaboration, and engaging with regulators.

CryptoUK and Digital Chamber: A Unified Approach

The strategic alliance between CryptoUK and the Digital Chamber comes at a crucial time as the US is advancing discussions to draft a comprehensive digital asset market structure bill. This legislative effort aims to provide much-needed regulatory clarity to the industry. Meanwhile, UK policymakers are working closely with their US counterparts to explore and refine crypto laws and regulations.

Su Carpenter, the executive director of CryptoUK, emphasized the group’s commitment to policy-driven issues. “CryptoUK has always aspired to ensure we are driven by policy-led issues, member collaboration, and regulatory engagement,” she stated. The collaboration with the Digital Chamber is expected to significantly enhance these efforts.

Impact on Cryptocurrency Regulations

US-based crypto advocacy groups, including the Digital Chamber, have been influential in garnering support from former regulators and congressional members. Notable groups such as the Solana Policy Institute, the Blockchain Association, the Crypto Council for Innovation, and the American Innovation Project have played roles in shaping industry policies.

In a related development, the Bank of England has taken a decisive step toward regulating stablecoins. On November 10, the central bank issued a consultation paper outlining a framework for “sterling-denominated systemic stablecoins.” This initiative follows the US government’s July legislation on payment stablecoins, highlighting the UK’s effort to synchronize with US regulatory advancements.

Bank of England Deputy Governor Sarah Breeden emphasized the importance of aligning rules with international standards. She stated, “It’s really important to be synchronized on rules,” underscoring the need for global regulatory harmony in the rapidly evolving crypto space.

As CryptoUK and the Digital Chamber embark on this collaborative journey, the potential for enhanced cross-border cryptocurrency policies is immense. Stakeholders in both regions are optimistic about the positive impact this partnership could have on the regulatory landscape.

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“Looking at the trends, it’s clear that most stock market and forex traders are transitioning to cryptocurrencies,” Jethwani conveyed to Cointelegraph. “We’re witnessing a significant influx of crypto investors and traders in India presently. There’s no going back for them.”

Jethwani is hopeful that the growing demand will prompt the Indian government to reconsider their unregulated and heavily taxed treatment of cryptocurrencies. He metaphorically referred to India’s present crypto environment as a “compressed spring,” indicating that regardless of the stringent regulations and high taxes, people are still gravitating towards digital assets.

“The Indian authorities attempt to curb crypto with hefty taxes and TDS (Tax Deducted at Source)”, Jethwani explained, highlighting the 1% TDS that many believe has hampered trading activity. The existing Indian Income Tax Act imposes a flat rate of 30% tax on profits made from selling Virtual Digital Assets (VDAs), in addition to the 1% TDS that applies to all crypto transactions above $115, deducted from either the buyer or seller of VDAs.

While comprehensive regulatory guidelines for crypto are yet to be introduced in India, Jethwani stated that the pressure is escalating. He cited increasing political consciousness and recent demands for a Bitcoin reserve initiative. On June 26, Pradeep Bhandari, a spokesperson for the ruling party in India, suggested the country consider setting up its own Bitcoin reserve, following the example set by the US. Bhandari also stressed the need for regulatory clarity and the potential for India to establish a sovereign Bitcoin strategy.

Despite the likely slow pace of progress, Jethwani believes user demand will “force” a shift. “It’s inevitable. The government will eventually have to take it seriously and we can expect more favorable regulations,” Jethwani asserted to Cointelegraph.

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In response to this situation, policymakers are left with three alternatives. They can either increase interest rates to safeguard the currency through higher yields, exhaust foreign currency reserves to back the domestic currency, or choose to “join the migration” by purchasing Bitcoin themselves, thereby “endorsing the very trend they aim to oppose”, as per Livingston.

“This marks a significant shift in the power dynamics between Bitcoin and governments. The free market is set to emerge victorious,” stated Livingston.

Currently, only a few countries like El Salvador and Bhutan have announced a national strategic Bitcoin reserve, holding 6,089 and 13,029 BTC respectively. Several other countries, including the United States, the United Kingdom, China, and Ukraine, reportedly hold the asset but haven’t officially declared national reserves.

Prominent analysts and crypto entrepreneurs such as Anthony Pompliano, Willy Woo, and Arthur Hayes have all forecasted that the devaluation of fiat through money printing will persist. “The primary reason why Bitcoin was created is debasement, fiat money printing by central banks, leading to hyperinflation,” Woo stated in June.

However, it is unlikely that central banks will hastily adopt Bitcoin. These banks are responsible for monetary policy, price stability, and controlling funds flow within an economy, including its citizens. Bitcoin poses a significant threat to these control mechanisms as people can conduct transactions between each other or via decentralized exchanges without government or bank supervision.

Many countries permit regulated crypto trading which can be taxed, but often limit crypto payments which bypass the banking system. Central banks also fear losing control over the money supply, particularly with stablecoins and crypto-dollarization, hence many are considering CBDCs (Central Bank Digital Currencies) as highly manageable digital alternatives.

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There are four primary types of tariffs:

• Ad valorem tariffs: These tariffs are percentage-based on the value of goods. For instance, a 20% tax might be imposed on goods worth $100.
• Specific tariffs: These tariffs are fixed fees based on the quantity of goods. For instance, a $5 tariff might be imposed on each imported kilogram of sugar.
• Compound tariffs: These tariffs are a combination of specific and ad valorem duties applied to the same imported goods. The total tax is determined by calculating both tariffs together. For instance, a country may impose a tariff on imported wine at $5 per liter plus an additional 10% of the wine’s cost.
• Mixed tariffs: These tariffs apply either a specific or ad valorem duty, based on predefined conditions. For instance, for imported trucks, a country may charge either $5,000 per vehicle or 15% of the vehicle’s value, whichever is higher.

The objective of these policies is to influence international trade flows, protect domestic industries, and respond to unfair practices by foreign countries. When a tariff is applied to an imported good, it raises its cost, making domestically produced alternatives more attractive to customers in terms of price.

In the US, the Trump administration used reciprocal tariffs as a significant instrument to influence the trade policies of other nations. Reciprocal tariffs are trade duties that a country imposes in retaliation to tariffs or barriers set by another country. The aim of this policy is to correct trade imbalances and safeguard domestic industries.

Did you know? Some countries use tariff-rate quotas, which allow a specified quantity of a product to be imported at a lower tariff. Once the quota is exceeded, a higher tariff is imposed. This system balances domestic protection with access to global markets, particularly in sectors like agriculture and textiles.

The trade conflict between the US and China wasn’t just a bilateral spat. It signaled a structural rethinking of trade policy in a multipolar world. The trade war began after the US imposed sweeping tariffs under Section 301 of the Trade Act of 1974, citing unfair trade practices, intellectual property theft, and forced technology transfers by China.

Over time, the US levied tariffs on more than $360 billion worth of Chinese goods. China retaliated with tariffs on $110 billion of US exports, targeting critical sectors like agriculture and manufacturing.

The conflict disrupted major supply chains and raised costs for American businesses and consumers. American farmers were hit hard by retaliatory Chinese tariffs on soybeans, leading the US government to provide billions in subsidies to offset losses.

While the Phase One Agreement in 2020 eased tensions and required China to increase purchases of US goods and enforce intellectual property protections, many tariffs remained in place. The Biden administration retained most of the economic measures imposed by the first Trump administration, signaling bipartisan concern over China’s trade practices.

As of April 10, 2025, Trump had imposed 125% tariffs on China, while for 75 countries, he had paused the imposition of tariffs for 90 days.

When a tariff is applied — for example, a 30% tax on imported steel — it raises the price of that good for importers. They, in turn, pass these added costs to downstream businesses, which further transfer these costs to consumers.

Overall, while tariffs aim to protect domestic industries, their impact is felt across the economy through altering prices, trade flows, and business strategies. Tariffs influence everyone — from factory owners to workers and everyday shoppers.

Trump’s tariff announcement on April 2 triggered a sharp sell-off in both equities and Bitcoin (BTC), with BTC plunging 10.5% in a week. According to analysts, institutional investors increasingly treat BTC as a risk-on asset closely tied to policy shifts. While some view Bitcoin as digital gold, recent behavior shows it reacting more like Nasdaq stocks — falling during global uncertainty and rallying on positive sentiment.

Did you know? Tariff exemptions can be highly strategic. Governments may exclude specific industries or companies, allowing them to import goods tariff-free while competitors pay more. This creates an uneven playing field and can spark domestic controversy.

Whether used defensively or offensively, tariffs shape the balance between protectionism and global engagement. This makes tariffs a matter not just of economics, but of national strategy and global influence.

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The minister believes that the U.S. policy provides an appealing avenue for cross-border transactions, posing more significant worries than trade tariffs. He urged the European Union authorities to take additional measures to enhance the euro’s standing as a global reference currency and expressed dissatisfaction with the fragmentation of the EU’s payment industry.

The Trump administration has vowed to revamp regulations on cryptocurrencies, reversing a previous clampdown under Joe Biden. Dollar-pegged stablecoins, a form of cryptocurrencies engineered to maintain a steady value, have experienced exponential growth in recent years. They play a pivotal role in the multi-trillion dollar crypto trading sector, facilitating the transfer of funds between various cryptocurrencies or to standard cash.

Giorgetti cautioned that the new U.S. policy on cryptocurrencies, particularly on dollar-denominated stablecoins, could potentially be more dangerous than the impact of trade tariffs. He argued that stablecoins offer savers a chance to invest in risk-free assets and a universally accepted payment method for cross-border transactions without necessitating a U.S. bank account.

“The appeal of stablecoins to citizens of economies with unstable currencies is obvious, but we must not underestimate their potential draw for people in the euro zone,” Giorgetti stated.

To safeguard the role of fiat currencies against the spread of stablecoins and enhance European sovereignty in payments, the European Central Bank (ECB) is developing the so-called digital euro. This plan would allow EU residents to hold digital euro accounts with the ECB for online payments or money transfers through EU-based payment service providers.

Giorgetti emphasized that the digital euro is vital to reduce the need for Europeans to rely on foreign solutions for basic services like payments. However, European banks are worried that a digital euro might drain their funds as customers move some of their cash to an ECB-guaranteed wallet.

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Addressing the SEC’s Crypto Task Force roundtable on April 11, aptly named “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” Uyeda proposed a “conditional exemptive relief framework” for both registrants and non-registrants. This provision would foster blockchain innovation in the US in the short term, he argued.

Uyeda’s proposition would help counter immediate challenges while the SEC works toward a comprehensive long-term solution, he stated at the roundtable meeting featuring SEC members and crypto industry leaders such as Katherine Minarik from Uniswap Labs, Chelsea Pizzola from Cumberland DRW, and Coinbase’s Gregory Tusar.

The acting chair highlighted the problem of state-by-state crypto trading regulation, warning of a potential “patchwork of state licensing regimes.” Uyeda argued that a favorable federal regulatory framework would simplify the process for market participants keen to offer tokenized securities and non-security crypto assets. It would enable them to operate under a single SEC license, instead of navigating through “fifty different state licenses.”

Uyeda encouraged crypto market players to provide feedback on areas where “exemptive relief” might be suitable. He also echoed the potential benefits of blockchain technology in the financial markets. “Blockchain technology offers the potential to execute and clear securities transactions in ways that may be more efficient and reliable than current processes,” Uyeda noted.

Until Paul Atkins, nominee of US President Donald Trump, officially assumes the SEC chair position, Uyeda will continue to serve as acting chair. The US Senate confirmed Atkins as the SEC chair on April 10 with a 52-44 vote primarily along party lines. Uyeda has filled the acting SEC chair role since January 20, succeeding former chair and known crypto skeptic Gary Gensler. He is widely considered a pro-crypto advocate within the industry.

As reported by Cointelegraph on March 18, Uyeda stated that the SEC might alter or abandon a rule proposed under the Biden administration that would intensify crypto custody standards for investment advisers. “I have asked the SEC staff to work closely with the crypto task force to consider appropriate alternatives, including its withdrawal,” Uyeda said.

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As the driving force behind blockchain advocacy, TDC’s new direction signifies the dawn of a new era. The organization aims to take the lead in the creation and implementation of blockchain regulations, thereby setting a precedent for others to follow. This transition will be effective as of April 2025.

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The revelation of a potential policy shift coincides with the introduction of a new tax of up to 70% on previously undisclosed crypto profits under India’s Income Tax Act. This change in the government’s approach mirrors the high-level game theory suggested by crypto enthusiasts and Bitcoin purists, who argue that the acceptance of digital currencies by one or two countries would instigate a global race to amass these assets.

The Indian government currently imposes a 30% capital gains tax on crypto assets, without any differentiation between long-term investments and short-term trading. Amit Kumar Gupta, a Supreme Court of India legal practitioner, described these taxes as excessively harsh and intended to deter the growth of permissionless blockchain technology.

Gupta further explained that the Indian authorities view cryptocurrencies as “More harmful than gambling”. He told Cointelegraph that the government’s viewpoint is essentially: “We will not use or permit the use of cryptocurrency because this technology is solely for money laundering and terrorist financing — such activities”.

Shaktikanta Das, the ex-governor of the Reserve Bank of India (RBI), lauded the central bank’s initiation of a central bank digital currency (CBDC) pilot project. In his farewell speech in December 2024, Das referred to CBDCs as “The future of currency” and stated that the country is gradually transitioning towards a CBDC-centric economy.

Just before Das’s exit, the RBI announced plans to broaden its cross-border payment platform in November 2024 by seeking more trading alliances. The bank is considering CBDCs as the chief settlement tool between countries using the cross-border payment platform, which could potentially take the form of a wholesale CBDC.

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