The United Kingdom, which is looking at its crypto rules by 2026, has rejected the formation of the National Crypto Reserve. Treasury’s Economic Secretary Emma Reynolds on Tuesday talked about the country’s stance on collecting crypto storage at the Financial Times Digital Asset meeting in London. The statement came in January this year by the New York Department of Financial Services (DFS) and the Bank of England (BOE) to “harmonize” digital asset legislation in January this year.
Reynolds said the storage Crypto was not suitable for the UK market and in that direction such a step was no longer part of the country’s crypto projects, Dikripit Reported. He did not give details about the reasons for rejecting the idea.
US President Donald Trump made history when he announced two strategic reserves for crypto currencies earlier this year. While one is dedicated to collecting a bit coin, which is the oldest and most expensive crypto asset, the other will pile up Altcovins. The United States has decided to put the taxpayers in the reserves instead of using taxpayers’ money to buy a new token. It is estimated that by March, BitCoin had more than 200,000 BTC tokens worth $ 17 billion (about Rs 1,53,161 crore).
Although the UK has decided not to make the United States a mirror in this field, President Trump’s decision has arranged to discuss crypto reserves in many parts of the world. In our footsteps, the dialogue has seen support in regions like the Czech Republic and Hong Kong.
However, the volatility of the crypto sector is cautious about linking many nations with its national reserves. Earlier in March, Swiss National Bank Rejection The idea of storing crypto. Puland And Japan The allegedly rejected the adding crypto to the list of reserved assets.
Last month, Polygon founder Sandeep Nilwal, speaking to Gadget 360, advised India to consider allocating small investment in crypto reserves, but financial analyst Namin Shah said there was no urgent need to rush the experience for the country.
For now, the United States is the only country with crypto reserves.
However, Reynolds said the UK fully supported the United States on increasing web -based bilateral efforts. He cited the example of the Translanic Regulatory Exchange, as a part of which the New York DFS and Bo agreed to exchange senior staff officials who specialize in digital assets and emerging payments.
The UK is looking for an internally blockchain -based autonomous loan. According to the Dikrip Report, Reynolds has said that the British government is ready to appoint a supplier this summer. He also said that the UK’s crypto rules would not be affected by the EU’s rules.
