UK abandons plans to create crypto reserve

At the London Economic Forum, UK Treasury Secretary Emma Reynolds officially stated that the government is not considering the possibility of creating a strategic crypto reserve in the coming years.

According to her, London intends to develop its own approach to regulating digital assets, without imitating the models of other countries, including the United States, where a Bitcoin investment program is already being implemented.

“We respect the US initiatives, but we believe that their strategy does not correspond to the specifics of our market,” the official emphasized.

However, Reynolds noted the importance of international dialogue with Washington to form uniform standards for controlling the crypto industry. In her opinion, the joint efforts of the two countries can become the basis for global regulation of the industry. Instead of direct investment in cryptocurrencies, the UK will focus on tightening the regulatory framework to ensure security and innovation in the sector. A special working group has been created under the Ministry of Finance to promote this strategy. Its task is to strengthen the UK's position as a leading fintech hub and develop a balanced approach to regulating the crypto market.

“Our priority is not to repeat other people’s decisions, but to create conditions for sustainable development of the industry through transparent rules,” Reynolds summed up.

Earlier, we reported that the UK Financial Conduct Authority (FCA) announced plans to ban individuals from purchasing crypto assets using borrowed funds, including credit cards.