According to the latest report, the UK government will join forces with the US lawmakers to craft a regulatory framework for cryptocurrency. This comes amid HM Treasury releasing a draft for the crypto regulation.
UK Pushes for Global Crypto Leadership Through US Partnership
On Tuesday, Chancellor of the Exchequer Rachel Reeves revealed her discussion on “responsible growth” digital assets with US Treasury Secretary Scott Bessent, which happened earlier this month.
The talks will continue in June at the UK-US Financial Regulatory Working Group.
“For the UK to lead in digital finance, we need an international framework,” Reeves said. Her statement came as the UK Treasury draft rules for cryptoassets, expected to be finalized later this year.
The revelation comes when EU officials are growing uneasy about Trump’s influence on global crypto policy. In March, European Central Bank board member Francois Villeroy de Galhau warned that the US’s support for crypto could spark another financial crisis.
Reeves also said that both governments discussed boosting innovation through cross-border initiatives, referring to a U.S. proposal for an international testing space or “sandbox” for crypto securities.
Under President Donald Trump’s pro-crypto administration, the country is expecting a crypto-friendly regulatory environment. Lawmakers are actively debating two major crypto bills, especially around stablecoins.
Trump, once a crypto critic, now openly backs the sector. Surprisingly, his family owns various blockchain and DeFi ventures such as World Liberty Financial.
Also Read: Trump Tower Dubai To Accept Crypto Payments
