Big personalities dominate the politics of crypto. Instead, the sector needs leaders who are willing to take the time to learn the necessary financial and technical knowledge, prioritize digital assets above some of their traditional voters’ needs and lead by example to show that crypto does not need to be the “Wild West” of financial markets.
This requires several key developments. First, international cooperation on crypto regulation and standards, preventing any single nation from dominating the space. Second, a focus on infrastructure and education rather than speculative investments. Third, an emphasis on practical applications and safeguards that protect ordinary people and small-scale investors.
Institutions vs personalities
However, developing the institutions and governance structures that would make adoption of digital assets beneficial regardless of who holds office seems a faraway goal. Existing global intergovernmental institutions such as the UN, the World Bank and the IMF are under pressure to prove their relevance in a rapidly shifting geopolitical environment in which their purpose is undercut by major powers, including members of the UN Security Council.
Most importantly, we need political leaders who understand that crypto's revolutionary potential lies not in creating new ways for the wealthy to accumulate assets, but in democratizing access to financial services and economic opportunity for the many.
This means supporting leaders who view crypto as a tool for financial inclusion rather than simply speculation and profiteering. It could be someone from a country that’s struggling with currency instability, limited banking access, and restrictive capital controls – those who have the most to gain from thoughtful crypto adoption. Or a thoughtful leaders from a steadier economy.
Who are the candidates?
In Part I of this article, we referenced a handful of political leaders in crypto, namely US President Donald Trump and certain Latin American leaders, considering who had the most clout in global affairs on the topic.
What of the other candidates for this role? The head of a leading European economy? The leader of a West African democracy? A newly elected Korean Prime Minister? An Emirati who can get things done without consulting a parliament? At present, no serious contender with global clout stands out today.
Here are some of the political figures we have been watching around the world and who we might expect to hear more from in the coming months. As it happens, only one of those listed is a woman, which is not a planned outcome of our review.
The Americas
Canada – Mark Carney brought extensive financial experience when he was sworn in as Canadian Prime Minister in March having already served as Governor of the Bank of Canada, Governor of the Bank of England and Chairman of Bloomberg LP. As a natural crypto sceptic he may seem an unlikely candidate to help the asset class develop. However, he is a pragmatist, as evidenced by his willingness to remove a consumer carbon tax upon taking office, despite another of his previous roles being the UN’s climate finance chief.
If Carney can overcome his scepticism his profound knowledge of financial stability and banking experience could be enormously helpful in mainstreaming crypto in a practical way.
Brazil – Congressman Eros Biondini is the most prominent political advocate for crypto, spearheading a bold proposal to establish a Sovereign Strategic Bitcoin Reserve. He would also eradicate income tax on crypto trading profits so Brazilians can use digital assets as safe stores of value and to boost Brazil’s reputation as an international crypto leader.
EMEA (Europe, the Middle East, Africa)
Brussels – Aside from Mairead McGuinness, who oversaw crypto regulation as part of her wider finance and markets portfolio in 2021-24, no single European Commissioner stands out as a crypto champion. The topic is shared across multiple Commission departments.
McGuinness’s successor, the Portuguese Maria Luis Albuquerque recently found herself in the position of having to defend crypto against criticism from the EU Parliament, however, her views are still relatively unknown. Commissioners are in post to draw up and implement policy that’s scrutinized by the Parliament and Council (of member state governments). Albuquerque could elevate herself to become a strong international voice on accountable crypto development.
While a large majority of the 720 MEPs (members of the European Parliament) voted for the Markets in Crypto Assets (MiCA) legal framework that came into effect at the end of last year, no single lawmaker among them has emerged as a potential digital asset leader. Stefan Berger, a German MEP, served as co-rapporteur on the MiCA file and seemed to be the pre-eminent voice for crypto. In 2021, he wrote in Brussels Morning:
“The Cryptocurrency market is too big to ignore, Europe must set the standards for crypto assets to flourish”.
More recently, Berger resigned from his role as parliament’s representative on the creation of rules for a new digital euro since the plans weren’t as popular in his native country.
Germany – the largest economy in Europe has more recently made strides in its banking sector with German regional lenders and certain international names increasingly offering crypto-related services. Former Chancellor Olaf Scholz had dismissed crypto as a new “Tulip mania” and highlighted Bitcoin’s energy consumption and potential for use in illicit activities. Maybe he should have listened to his Finance Minister Christian Lindner, who has warned against missing out on crypto-related opportunities.
Friedrich Merz, Chancellor since 6 May, comes from a pro-business background and is expected to embrace digital assets more fervently than his predecessor.
Sweden – Over 10 years ago, Mathias Sundin of the Liberal Party rose to fame running a parliamentary campaign that only accepted donations in Bitcoin. Most recently Rickard Nordin of the Centre Party has perhaps taken the reigns as a Swedish political proponent. In April, he petitioned the government to add Bitcoin to Sweden’s official foreign exchange reserves and has also framed Bitcoin as a useful hedge against inflation.
Türkiye – Finance Minister Mehmet Simsek has driven several major cryptocurrency regulatory reforms. The country’s roaring inflation and the slide of the lira over the past four years has increased the appeal of stablecoins and other solutions to preserve wealth against currency devaluation. Meanwhile, Simsek has backed a crypto trade transaction tax and caps on stablecoin use, signaling his support for digital asset legitimization across the country. In the recent Turkish economic climate, these actions are understandable. His general approach has been to introduce institutional legitimacy in crypto and integrate it with mainstream finance, seeking to protect the country’s reputation as an emerging crypto leader.
UAE – The Emirates have clearly identified digital assets as an important diversifier in the modernization of their hydrocarbon-based economies. Economy Minister Abdulla Bin Touq Al Marri is in the driving seat to help entice entrepreneurs and companies to Dubai, Abu Dhabi and the rest of the territory and stands to gain international influence if he can project the UAE’s vision abroad. Earlier this year, he told a panel at the World Economic Forum’s Global Technology Governance Summit that cryptocurrency and tokenization were integral to the country’ plan to double its economy in 10 years.
Ghana – President John Mahama is a vocal supporter for blockchain fintech across Africa and has publicly backed Solana as a catalyst for the continent’s fintech future. However, powerful politicians continue to have a hard time promoting crypto on their social media accounts (remember Milei…). Mahama’s X account was compromised for 48 hours by cryptocurrency scammers plugging a fake “Solana Africa” scheme in March, according to a government statement. Meanwhile, South Africa’s opposition leader Julius Malema’s X account was hacked to promote a bogus token in 2023.
Johnson Asiama, Governor of the Bank of Ghana has become a key figure in crypto regulation in Africa. He has sought to implement licensing and supervising crypto methods by the end of September 2025.
Asia & Australasia
India – the Indian subcontinent remains an enormous market for crypto in which Prime Minister Nahendra Modi has not hesitated to place digital assets high up on his agenda. During India’s G20 presidency (2022-23), Modi broadened discussions beyond financial stability to consider broader macroeconomic implications of crypto assets. He also called for a global cryptocurrency framework. Alas, he was also a victim of hackers on the social media platform X. In 2021 Modi was briefly perceived to have announced that India had adopted Bitcoin as legal tender before the false tweet was deleted.
Pakistan – Modi’s rival Shehbaz Sharif, Prime Minister of Pakistan, has gone further – domestically at least – in elevating crypto at the centre of government by appointing a dedicated crypto czar of ministerial rank in Bilal Bin Saqib. The government has already committed to using 2,000 MW of surplus electricity for Bitcoin mining and set up the Pakistan Crypto Council as a “direct channel” with citizens over cryptocurrency and blockchain policy development
South Korea – this year’s election of Lee Jae-myung heralds a new crypto-friendly era for South Korea. President Lee has proposed to launch a won-based stablecoin as part of a wider piece of legislation defining digital assets and to allow spot crypto ETFs in the country. With more than 20 million crypto users, according to Chainalysis, the Asian nation is set to become a more influential player in the market.
Indonesia – Prabowo Subianto’s government has placed great emphasis on digitalization, including on blockchain and AI with a view to supporting younger members of the population. Alongside younger, pro-crypto running mate Gibran Rakabuming Raka, his arrival in government was seen as a potential boon for crypto.
China – President Xi doesn’t usually miss the chance for one-upmanship with the US. He gave a resounding speech in late 2019, becoming one of the first major world leaders to publicly back blockchain, at a time when the US was relatively quiet on the topic. China had, however, banned ICOs (initial coin offerings) in 2017 and most crypto activity is technically outlawed.
Hong Kong, as a Special Administrative Region of China, has a separate legal framework and operates as an “offshore” location for Chinese crypto investors. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu will be among the officials promoting a new regulatory licensing regime in the coming months for the financial gateway to mainland China.
Fill the vacuum
We’re undecided on who specifically we would back to emerge as the most prominent political leader from this group. Today we would rather point out that the field is wide open for somebody else to step up and fill the vacuum of genuine political leadership.
Several smaller economies such as Suriname, Bhutan and the Central African Republic have taken the plunge to integrate crypto into their economies – perhaps new political leadership can emerge from a smaller nation?
Populist pretenders
Some of the other would-be captains of crypto include representatives of “populist” political parties – those who create or reinforce divisions between “the people” and the “establishment”, claiming to prioritize ordinary citizens over the elite – who are not yet in power. For example, Konfederacja in Poland and Reform in the UK.
Both parties talk about creating national Bitcoin reserves and positioning crypto as a tool of financial sovereignty. Reform’s leader Nigel Farage was a guest speaker at the Bitcoin 2025 conference in Las Vegas, on an agenda which also featured US Vice President JD Vance and Eric Trump, son of Donald. Farage’s political party only represents four of the 650 seats in the UK parliament and he himself comes from a traditional City of London background as a former metals trader. His most vocal point of advocacy is to allow political donations in Bitcoin and other digital assets.
Principled leadership
Crypto’s potential for economic liberation hinges on decentralizing its political support as broadly as the code and the technology which underpins its existence—only then can it resist capture by powerful interests as another tool for enrichment. By cultivating a diverse, principled leadership worldwide, digital assets should come closer to serving their original promise: to create a more open, equitable, and decentralized financial future for everyone.
