UK Treasury Secretary Dismisses Creation of US-Like National Crypto Reserve

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The UK has rejected the idea of establishing a national crypto reserve, a decision confirmed by Economic Secretary to the Treasury, Emma Reynolds, at the Financial Times Digital Asset Summit in London. This announcement comes as the UK aims to finalize its comprehensive crypto regulations by 2026.

Reynolds’ statement clarifies the country’s position amidst growing global interest in digital assets. Her remarks follow a recent agreement between the New York Department of Financial Services (DFS) and the Bank of England (BoE) to collaborate on harmonizing digital asset regulations across the Atlantic, highlighting the increasing international focus on responsible crypto oversight. The UK’s decision suggests a more cautious approach compared to some other nations exploring crypto integration into their financial strategies.

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