Emma Reynolds, Economic Secretary of the Treasury, stated that the UK will not adopt a national crypto reserve like the U.S., deeming it unsuitable for the UK market.
Reynolds highlighted plans for collaboration with the U.S. On digital assets, including forming a working group to discuss regulatory alignment and cooperation.
The UK plans to regulate digital assets within existing financial service frameworks, promoting a ‘same risk, same regulatory approach’, while acknowledging limits on government oversight of decentralized crypto.
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