UK Treasury: Will not follow the US in establishing a national cryptocurrency reserve

ChainCatcher news, according to Decrypt, Emma Reynolds, the Economic Secretary to the Treasury, stated at the Financial Times Digital Assets Summit that the UK will not follow the US in establishing a national cryptocurrency reserve. Reynolds made it clear, "We believe this approach is not suitable for our market, and while we understand this is a choice made by the US, it is not part of our plan."

Reynolds indicated that the UK is seeking alignment with the US in other areas. She revealed that the UK Chancellor has met with US Treasury Secretary Scott Bessent, and both sides have established a senior officials working group. This regulatory forum will hold a meeting in June to discuss cooperation on digital assets.