Reynolds noted that the UK has established a “senior official level working group” with the U.S. to discuss cooperation on Bitcoin and crypto, with a regulatory forum scheduled for June. This follows recent meetings between the UK’s Chancellor of the Exchequer and U.S. Treasury Secretary Scott Bessent.
Reynolds acknowledged the challenges in regulating certain aspects of Bitcoin and crypto, particularly Bitcoin’s decentralised nature. “There’s only so much the government can do in that regard,” she said. “We understand that some of this stuff is a little bit amorphous, and the decentralised stuff is particularly difficult.”