The United Kingdom has emerged as the fastest-growing crypto market in 2025, surpassing countries like the United States, France, and Singapore, according to the latest State of Crypto report released by Gemini on May 27.
Crypto Ownership in the UK Jumps to 24%
According to the report, the UK’s crypto ownership rose from 18% in 2024 to 24% in 2025, representing the largest year-over-year increase among the surveyed nations. This growth comes despite the country still lacking a comprehensive regulatory framework similar to the European Union’s MiCA (Markets in Crypto-Assets) regulation.
“Crypto ownership in France and the UK increased, reflecting a warming regulatory environment in Europe,” the report noted.
Gemini’s study surveyed over 7,200 adults across Europe, the US, Singapore, and Australia, highlighting shifting global trends toward broader crypto adoption.
Singapore Maintains Top Spot for Ownership
While the UK saw the biggest growth, Singapore continues to lead in overall adoption, with 28% of its population reportedly owning crypto as of April 2025 — up from 26% in 2024. Meanwhile, France rose to 21%, and the United States saw a modest increase from 21% to 22%.
The report emphasizes that nearly 1 in 4 adults in the surveyed countries now own cryptocurrency, a clear indication of mainstream acceptance.
Positive Sentiment Boosted by Global Factors
Gemini attributes the growth in crypto adoption to improving global sentiment, particularly driven by favorable policies in the United States under President Donald Trump’s administration. The report also credits the rollout of regulatory initiatives in Europe as boosting investor confidence.
Despite its regulatory lag, the UK government is taking steps to catch up. In April 2025, the Treasury published a draft Statutory Instrument (SI) aimed at regulating crypto exchanges, brokers, and agents, with the final version expected later this year.
Outlook for Crypto in the UK
With regulatory clarity on the horizon and crypto ownership rising rapidly, the UK is poised to become a major player in the global crypto landscape. If trends continue, the nation could serve as a bridge between traditional finance and digital assets in Europe and beyond.
Related: UK to become ‘safe harbor’ for crypto with new draft rules — Experts