Emma Reynolds, the UK Economic Secretary to the Treasury, confirmed during her speech at the digital assets summit organized by the Financial Times in London that the United Kingdom aims to become a center for cryptocurrencies, but it will take a different approach from both the United States and the European Union in regulating Bitcoin and cryptocurrencies.

Reynolds stated regarding the idea of creating a national reserve of Bitcoin: $BTC

"We do not believe that a Bitcoin reserve is suitable for our market. We understand that this is the direction in the United States, but it is not part of our plans."

These remarks come at a time when the British government is preparing to implement a new regulatory framework for Bitcoin and cryptocurrencies by the end of 2025. Instead of adopting the EU legislation known as 'MiCA' or following the US reserve strategy, the UK plans to regulate this sector within its current financial services framework.

Reynolds noted that Britain has formed a 'working group at the senior officials level' with the United States to discuss ways to cooperate in the field of Bitcoin and cryptocurrencies, with a regulatory forum scheduled for June. This comes after recent meetings between the British Chancellor and US Treasury Secretary Scott Piesen.

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