The UK Treasury Secretary of the Economy: Will not follow the example of the United States to establish a national cryptocurrency reserve

On May 6, Emma Reynolds, the economics secretary of the UK Treasury, made it clear that the country will not follow the example of the United States in establishing a national cryptocurrency reserve. She pointed out at the summit in London that although the United States and the United States have established a working group of senior officials to cooperate on digital asset supervision, the United Kingdom prefers to include cryptoassets in the existing financial regulatory framework, following the principle of "same risk, same regulation".
The UK is exploring the use of distributed ledger technology to issue sovereign debt and is expected to identify technology suppliers by the end of the summer. Reynolds stressed that the UK would not copy the special project legislative model of the European Union's MiCA Act, but would adjust existing regulations based on results. For decentralized assets such as bitcoin, she acknowledged regulatory limitations and limited government intervention.