May 27, 2025

UK Leads Global Growth in Crypto Ownership, Gemini Finds

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The United Kingdom is emerging as the fastest-growing crypto market among leading economies, according to a newly released State of Crypto report by U.S.-based exchange Gemini. Published on May 27, the study highlights a sharp rise in UK crypto ownership, outpacing nations such as the United States, France, and Australia in year-over-year growth.

Based on a survey of 7,200 adults across the U.S., Europe, Singapore, and Australia, Gemini found that 24% of UK respondents now own cryptocurrencies—up from 18% last year. The 6% increase marks the largest year-over-year gain among the countries surveyed.

Europe overall showed strong momentum, but the UK led the charge. France also recorded a notable increase, climbing from 18% to 21%. Meanwhile, Singapore maintained its position as the global leader in crypto adoption, with 28% of adults reporting digital asset holdings.

The growth underscores the UK’s rapidly evolving crypto landscape, driven by rising awareness, changing investment behaviors, and anticipation of clearer regulatory oversight. While the UK has yet to roll out a full crypto framework similar to the EU’s MiCA, recent government action—such as draft rules for crypto exchange and custody services—suggests a comprehensive regime may soon follow.

Singapore Still Tops Crypto Ownership Rankings

While the UK posted the fastest growth in new crypto adopters, it still trails Singapore in overall ownership, according to Gemini’s 2025 report. With 28% of adults now holding crypto, Singapore extended its two-year lead in adoption.

France and the UK continued their upward climb in 2025, rising from 18% last year to 21% and 24% respectively. The United States saw more modest growth, with participation edging up from 21% to 22%.

Overall, combined crypto ownership across the U.S., UK, France, and Singapore reached 24% by April—up from 21% in the prior year. This means nearly one in four adults in these major markets now hold digital assets such as Bitcoin or Ethereum.

While the UK leads in growth rate, Singapore remains the leader in total ownership, signaling its more mature market. The data also reflects accelerating European adoption, with countries like France narrowing the gap thanks to regulatory progress and increasing institutional activity.

MiCA and UK Regulation Boost Investor Confidence

According to the report, Europe’s more structured approach to crypto regulation is playing a key role in increasing investor confidence across the region. The surge in ownership in countries like France and the UK is linked to the rollout of the European Union’s Markets in Crypto-Assets (MiCA) regulation—a unified legal framework designed to standardize crypto oversight across the EU.

Gemini credits part of the global rebound in sentiment to the regulatory clarity MiCA has provided, especially after the uncertainty that followed the 2022 market downturn. Increased adoption in both France and the UK reflects a growing openness toward digital assets across Europe.

While the UK is no longer bound by EU law post-Brexit, it is developing its own national regulatory regime. In April, the British government introduced a draft statutory instrument (SI) aimed at regulating crypto exchanges, dealers, and intermediaries. The proposal is designed to strengthen consumer protection, ensure operational stability, and align with global best practices.

The public consultation for the draft closed on May 23, and the Treasury is expected to release a revised version later this year. Although the UK’s regulatory framework is still in development, it appears aligned with the EU’s broader efforts—signaling a coordinated shift toward institutionalizing crypto markets across Europe.

As MiCA takes hold and the UK finalizes its regulatory structure, both regions are positioning themselves to attract global players seeking stable, compliant jurisdictions for digital asset innovation.