Su Carpenter, Executive Director at CryptoUK, shared her insights in our CryptoEdu magazine on the evolving role of trade associations in the crypto industry. To follow-up our team asked SU important questions about her vision for the development of the crypto industry in the UK, the prospects and barriers to increasing crypto literacy worldwide.

Drofa Comms: Can you tell us about CryptoUK’s role and mission within the crypto and digital assets industry?

Su: CryptoUK has a commitment to educate regulatory bodies and consumers, representing over 160 members from the crypto, digital assets, and Web3 ecosystems. Unlike commercial entities, CryptoUK serves as an independent voice, advocating for balanced regulation that fosters economic growth while ensuring consumer protection. Our goal is to be a trusted source of credible information for policymakers, offering education, robust research, and open dialogue to validate the work of credible stakeholders.

Drofa Comms: How has the industry evolved since CryptoUK was established?

Su: Reflecting on the industry's progress, there have been significant changes since CryptoUK's inception in 2017. Initially, we were met with skepticism and associations with financial crime, but the narrative is shifting. The establishment of the Crypto and Digital Assets APPG has been pivotal, with CryptoUK facilitating roundtables and site visits to educate MPs on the sector's potential. This engagement has led to a notable increase in awareness and acceptance, as evidenced by Greengage’s research on Digital Parliamentarians.

Drofa Comms: Despite this progress, what challenges does the industry still face?

Su: Challenges remain, particularly in reviving the dialogue on regulatory frameworks pursued by the previous government. Education strategies have evolved, especially with a rise in tech-savvy individuals and digital asset adoption. The focus is now on enhancing consumer awareness and regulatory clarity. Early financial education is crucial, encompassing both fiat and crypto. As consumers and policymakers seek new channels for information, providing credible, validated resources is more important than ever in combating misinformation.

Drofa Comms: What are the future goals for CryptoUK?

Su: Through these efforts, CryptoUK aims to ensure that the crypto industry not only grows but thrives, fulfilling its potential and addressing the needs of the unbanked population in the UK.