On May 6-7, 2025, the Digital Assets Summit is taking place in London, featuring Economic Secretary to the Treasury Emma Reynolds. She shared her views on the possibility of creating a bitcoin reserve, discussed plans for regulating the crypto industry, and addressed issues of cooperation with the United States.
This is reported by Business • Media
Emma Reynolds stated that the United Kingdom does not plan to follow the example of the United States in creating a strategic bitcoin reserve. “This is not suitable for our market. We understand that this is exactly what the U.S. is aiming for, but this is not our plan,” she declared during her speech.
Emma Reynolds noted, “This is not suitable for our market. We understand that this is exactly what the U.S. is aiming for, but this is not our plan.”
Furthermore, Reynolds emphasized that the United Kingdom and the United States continue to collaborate in other areas, particularly in the context of crypto assets. A meeting of the working group on industry regulation is scheduled for June 2025, as previously announced by Chancellor of the Exchequer Rachel Reeves. It is also known that at the end of April 2025, local authorities presented a draft law regarding the regulatory framework for crypto assets.
Reynolds mentioned that the government has no intention of copying the MiCA regulation, adhering to the principle of “same risk, same rules.” She pointed out that the authorities consider it appropriate to use approaches similar to those applied to traditional financial products, although some aspects of the crypto sphere, such as bitcoin and decentralized finance (DeFi), will be more challenging to regulate.
Recall that earlier, the UK’s Financial Conduct Authority announced a call for opinions on industry regulation, which will last until June 13, 2025.