The UK Treasury plans to collaborate with the US to promote innovation in the cryptocurrency industry

ChainCatcher news, according to The Block, the UK Treasury has issued a statement saying it plans to collaborate with the United States to promote innovation in the cryptocurrency industry. Chancellor of the Exchequer Rachel Reeves stated that the UK will establish new regulations for cryptocurrency service providers such as Bitcoin and Ethereum through a "transformation plan" to enhance investor confidence and stimulate growth.

Recently, Rachel Reeves discussed digital asset regulatory cooperation with U.S. Treasury Secretary Scott Bessent in Washington, including proposals put forward by SEC Commissioner Hester Peirce. The two countries' treasuries will continue to explore pathways to support the responsible development of digital assets through the "UK-US Financial Regulatory Working Group."