UK Treasury to Work with US to Boost Crypto Innovation and Regulation

The UK Treasury announced plans on Tuesday to collaborate with the United States to enhance support for innovation in the rapidly growing crypto sector.

Chancellor of the Exchequer Rachel Reeves emphasized her goal of making “Britain the best place in the world to innovate,” adding that this ambition includes backing companies operating in the crypto space. “Firms offering services for cryptoassets like Bitcoin and Ethereum will be subject to new, clear rules, boosting investor confidence and driving growth through the Plan for Change,” Reeves stated.

The Treasury’s intent to work alongside the U.S. government on advancing the digital assets industry follows a recent meeting between Reeves and U.S. Treasury Secretary Scott Bessent in Washington D.C. During their talks, they discussed regulatory cooperation around digital assets. The meeting also covered proposals introduced by Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission who leads the Crypto Task Force.

The UK’s proactive approach to fostering the crypto industry through supportive regulation parallels recent policy shifts in the U.S., where President Trump’s administration has taken a more open stance toward digital assets. Since taking office, President Trump has made notable efforts to support the sector, with public statements in favor of cryptocurrency and regulatory changes aimed at encouraging growth.

According to the UK Treasury, conversations between UK and U.S. financial authorities are ongoing. Reeves is expected to further engage with U.S. officials on strategies to “support the use and responsible growth of digital assets” during the upcoming UK–U.S. Financial Regulatory Working Group meeting, as noted in Tuesday’s announcement.

Earlier this year, the UK demonstrated its commitment to adapting its regulatory framework to benefit crypto businesses. In January, it made amendments to the Financial Services and Markets Act 2000, easing restrictions on firms offering staking services within the country.