UK Rules Out National Digital Asset Reserve, Focuses on Blockchain Innovation
- 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 …
The post UK Rules Out National Digital Asset Reserve, Focuses on Blockchain Innovation appeared first on Coin Edition.
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UK Rules Out National Digital Asset Reserve, Focuses on Blockchain Innovation
- 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 …
The post UK Rules Out National Digital Asset Reserve, Focuses on Blockchain Innovation appeared first on Coin Edition.
Read More
Former SSA Chief O’Malley: Social Security Isn’t a Ponzi, But Bitcoin Might Be