The Financial Times Digital Asset Summit, held in London on 6 to 7 May 2025, brought together key players in finance, regulation and technology at a moment when the UK’s approach to digital assets is undergoing significant development.
The event, thoughtfully structured with panel discussions, keynote addresses and ample networking opportunities, created an atmosphere where the right people were not only in the room but actively engaging in meaningful conversations about the future of digital assets in the UK.
The timing of the event aligned with Chancellor Rachel Reeves’ announcement last week of the UK’s draft statutory instrument (SI) on cryptoassets, a move aimed at establishing a comprehensive regulatory framework that will be set for release later this year. Reeves emphasised the government’s intention to foster a robust yet balanced regulatory environment, one that encourages innovation while ensuring market stability.
“Regulation must support business, not hold it back” she said.
Regulatory outlook
The Chancellor’s comments set the tone for much of the discussion at the summit, particularly in sessions focused on the regulatory landscape. Sasha Mills, executive director of financial market infrastructure at the Bank of England, echoed Reeves’ emphasis on stability while highlighting the Bank’s evolving role in supporting financial innovation.
Mills presented the Bank’s ongoing initiatives, including the digital security sandbox and exploratory work on a potential central bank digital currency (CBDC).
For Mills, maintaining financial stability as digital assets gain traction is paramount. “Supporting innovation is critical,” she said, “but it must not come at the cost of systemic stability.” The Bank’s approach, she noted, includes working closely with other regulators to ensure that any new frameworks for digital assets align with broader financial market infrastructure and international standards.
Elsewhere on the agenda
Beyond regulation, the summit’s agenda emphasised the practical integration of digital assets into institutional portfolios. A panel titled ‘Asset Allocation – How Can Asset Managers Balance ‘FOMO’ Against Market Uncertainty?’ delved into how digital assets are being positioned within mainstream investment strategies.
Moderated by Ivan Levinston, European deals reporter for the Financial Times, the session featured Rahul Bhushan, managing director, ARK Invest, Europe, Nalaka De Silva, head of private market solutions at Aberdeen alongside Larisa Yarovaya, director of the Centre for Digital Finance at Southampton Business School.
De Silva outlined three key dimensions for integrating digital assets: exposure, efficiency and utility. He suggested that tokenisation could become a critical component of future financial infrastructure, facilitating more efficient distribution of debt and equity and enabling cross-border crowdfunding with fewer intermediaries.
“We’re seeing the foundations for what will be the next superhighway of financial services, and not just financial services. It’s going to be the way that businesses operate, the entire fabric.”
Yarovaya brought an academic perspective, referencing recent studies that demonstrate how even a small allocation to Bitcoin of around five per cent in a traditional 60/40 portfolio can enhance returns without a commensurate increase in risk. However, she outlined the importance of rigorous risk assessment, given the persistent volatility in digital asset markets.
Indeed Bhushan made the argument that “Looking at the price history of Bitcoin today, you would have been better off actually just buying this thing and not looking at it for a decade”.
Investment choices
Investing in digital assets was a significant track throughout the event with prominent industry names such as Fidelity Investments, Franklin Templeton and Aberdeen sending heads of digital assets to discuss current thought process.
In another significant session, the panel “Digital Assets in the UK – Key Priorities and Obstacles to Progress” examined the broader regulatory landscape. Laura Navaratnam, UK Policy Lead at the Crypto Council for Innovation, expressed optimism about the SI’s potential to provide much-needed clarity for the sector.
However, she warned that if regulations are too stringent, they could inadvertently stifle innovation. “We’re seeing some positive steps forward,” she said, “but we need to ensure that the framework is not only robust but also adaptable to future developments.”
Joey Garcia, executive director and chief digital asset and legal officer at Zapo Bank, echoed this sentiment, highlighting the challenge of achieving regulatory consistency across jurisdictions. He noted that while the UK is making strides, fragmented approaches globally could complicate cross-border transactions and hinder the growth of digital asset ecosystems.
Chance for chat
The summit also created space for less formal, yet equally important, conversations. During networking breaks, clusters of executives, regulators and fintech founders exchanged views on emerging trends, operational challenges, and the broader implications of regulatory changes.
It was a welcome contrast to the often-fragmented nature of digital asset discussions, bringing key stakeholders together in a setting designed to foster deeper collaboration. It was also a place for candid talk, as CEO of GFO-X, a UK-based exchange for digital asset derivatives, told The Banker how banks were currently being held back by ‘punitive’ capital markets requirements for Bitcoin.
With these discussions and concerns in mind, the event’s atmosphere felt purposeful yet measured, balancing the excitement surrounding digital assets with a recognition of the risks involved. Attendees frequently remarked that the summit had attracted the right mix of people, those in positions to influence policy, shape industry standards, and drive technological innovation.
There was also a sense that these conversations need to extend beyond the summit. Several participants noted that while events like this are valuable, the real impact will come from more frequent, behind-the-scenes discussions that could lead to coordinated action on key regulatory and infrastructural issues.
The UK’s position as a potential leader in digital assets will depend not just on regulatory announcements but on sustained dialogue and strategic alignment across the sector.
