UK Rejects BTC Reserve Plan, Prioritizes Blockchain Innovation
The post UK Rejects BTC Reserve Plan, Prioritizes Blockchain Innovation appeared on BitcoinEthereumNews.com. The UK rejects Bitcoin reserve plans, opting for a traditional financial framework. UK strengthens digital asset ties with the U.S. through regulatory cooperation. UK explores blockchain for sovereign debt, avoiding the EU’s Markets in Crypto Assets model. The UK government has officially stated that it will not follow the U.S. in creating a national digital asset reserve. Emma Reynolds MP, Economic Secretary to the Treasury, clarified that the UK does not view stockpiling Bitcoin as appropriate for its market. The government, however, continues to explore other ways of integrating digital assets into its financial infrastructure. UK Dismisses Bitcoin Reserve Plans Speaking at the Financial Times Digital Asset Summit in London, Reynolds emphasized that while the U.S. is taking steps to build a Bitcoin reserve, the UK will not pursue the same strategy. “We don’t think that’s appropriate for our market,” Reynolds said, explaining that the UK has a distinct financial and digital asset regulation approach. Furthermore, he acknowledged the growing role of digital currencies but confirmed that the government will not mirror the U.S. model of holding Bitcoin on the country’s balance sheet. Related: Ripple UK & ClearBank Hit: Regulatory Uncertainty Threatens UK Crypto’s Future Strengthening UK-US Cooperation on Digital Assets While distancing itself from the Bitcoin reserve idea, the UK government remains committed to closer cooperation with the U.S. on digital asset regulation. Reynolds pointed to recent high-level discussions between the UK Chancellor of the Exchequer and U.S. Treasury Secretary Scott Bessent. These meetings have led to the formation of a “senior official level working group between the UK and the US” focusing on digital assets and regulation. A regulatory forum between the two nations is scheduled for June, where further details on cooperation will be discussed. This forum aligns with the UK’s goal to enhance global collaboration on…
The post UK Rejects BTC Reserve Plan, Prioritizes Blockchain Innovation appeared on BitcoinEthereumNews.com.
The UK rejects Bitcoin reserve plans, opting for a traditional financial framework. UK strengthens digital asset ties with the U.S. through regulatory cooperation. UK explores blockchain for sovereign debt, avoiding the EU’s Markets in Crypto Assets model. The UK government has officially stated that it will not follow the U.S. in creating a national digital asset reserve. Emma Reynolds MP, Economic Secretary to the Treasury, clarified that the UK does not view stockpiling Bitcoin as appropriate for its market. The government, however, continues to explore other ways of integrating digital assets into its financial infrastructure. UK Dismisses Bitcoin Reserve Plans Speaking at the Financial Times Digital Asset Summit in London, Reynolds emphasized that while the U.S. is taking steps to build a Bitcoin reserve, the UK will not pursue the same strategy. “We don’t think that’s appropriate for our market,” Reynolds said, explaining that the UK has a distinct financial and digital asset regulation approach. Furthermore, he acknowledged the growing role of digital currencies but confirmed that the government will not mirror the U.S. model of holding Bitcoin on the country’s balance sheet. Related: Ripple UK & ClearBank Hit: Regulatory Uncertainty Threatens UK Crypto’s Future Strengthening UK-US Cooperation on Digital Assets While distancing itself from the Bitcoin reserve idea, the UK government remains committed to closer cooperation with the U.S. on digital asset regulation. Reynolds pointed to recent high-level discussions between the UK Chancellor of the Exchequer and U.S. Treasury Secretary Scott Bessent. These meetings have led to the formation of a “senior official level working group between the UK and the US” focusing on digital assets and regulation. A regulatory forum between the two nations is scheduled for June, where further details on cooperation will be discussed. This forum aligns with the UK’s goal to enhance global collaboration on…
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