The British Treasury Secretary excludes the National Crypto Reserve: ‘It’s not a plan for us’

The British Treasury Secretary of Finance poured cold water into the idea of ​​starting the national cryptocurrency reserve forces. speaking Financial time Emma Reynolds MP is a digital asset summit in London Bitcoin “It’s not a plan for us.”

“We don’t think it’s suitable for our market.” She added, “We understand that it is what the United States is doing, but it is not a plan for us.”

Reynolds said that in other regions, we are looking forward to linking with the United States. “We think that cooperation and cooperation are really important.”

She pointed out the recent meetings between the British EXCHEQUER and the US Treasury Minister Scott Bessent and the establishment of a high -ranking working group between the United Kingdom and the United States.

The “Regulatory Forum” will discuss cooperation in digital assets in June, and she pointed out that the United States has experienced a big change with the previous administration from the position of encryption under the Trump administration.

Although the UK’s digital asset protection area is out of the card, the state is seeing the possibility of issuing sovereignty debts using the distributed ledger technology, Reynolds said.

Looking at the opposite side of the Atlantic Ocean, the UK will not accurately duplicate the “customized system” of digital assets established in accordance with the EU’s Crypto Assets (MICA) law. “We decided not to go down that certain road.” She pointed out that the legislative tradition of the UK is different from the EU’s tradition in that we are looking at OU.

TCOMES. ”

The UK’s position is that digital asset regulations should be “within the regulatory boundaries operated by traditional financial service companies.” “In essence, we say,” The same danger, the same regulatory approach. “

Reynolds acknowledged that some encryption areas have gone beyond the ability of the government to regulate, and that the completely distributed character of Bitcoin has raised special challenges. “There are so many things that the government can do,” she said. “We understand that some of these things are slightly inherited, and that the dispersed things are especially difficult.”

Edited by Stacy Elliott.