PANews reported on May 6, according to Decrypt, that the UK's Economic Secretary to the Treasury, Emma Reynolds, has made it clear that the country will not follow the US in establishing a national cryptocurrency reserve. Speaking at a summit in London, she noted that while the UK and the US have set up a working group of senior officials to collaborate on digital asset regulation, the UK prefers to incorporate crypto assets into the existing financial regulatory framework, adhering to the principle of "same risk, same regulation."

The UK is exploring the use of distributed ledger technology to issue sovereign debt, with a decision on the technology provider expected by the end of summer. Reynolds emphasized that the UK will not replicate the EU's MiCA legislation's special legislative model but will instead adjust existing regulations based on a results-oriented approach. Regarding decentralized assets like Bitcoin, she acknowledged the limitations of regulation and the limited intervention measures the government can take.