According to PANews on April 30, the UK Treasury announced on April 30 that it plans to collaborate with the United States to promote innovation in the crypto industry. Chancellor of the Exchequer Rachel Reeves stated that new regulations will be developed for crypto asset service providers such as Bitcoin and Ethereum through a 'transformation plan' to enhance investor confidence and promote growth. This move aims to make the UK 'the best place in the world for innovation.' The statement revealed that Reeves discussed digital asset regulatory cooperation with U.S. Treasury Secretary Scott Bessent during a recent meeting in Washington, including related proposals put forth by SEC Commissioner Hester Peirce. The two countries' treasuries will continue to explore paths to support the responsible development of digital assets through the 'UK-US Financial Regulatory Working Group.'
The UK has made multiple policy adjustments to support the crypto industry this year, including a revision in January (2000 Financial Services and Markets Act) that lifted strict regulations on domestic staking service providers. This series of measures echoes the support for the crypto industry from the Trump administration in the United States.
