The UK Treasury plans to collaborate with the US to promote innovation in the cryptocurrency industry

According to The Block, the UK Treasury announced on April 30th that it plans to collaborate with the United States to promote innovative development in the cryptocurrency industry. Chancellor of the Exchequer Rachel Reeves stated that new regulations will be developed for cryptocurrency service providers such as Bitcoin and Ethereum through a 'transformation plan' to boost investor confidence and promote growth. This move aims to make the UK a&34; The world's best place for innovation&34;. The statement revealed that Reeves recently discussed digital asset regulatory cooperation during a meeting with US Treasury Secretary Scott Bessent in Washington, including proposals put forward by SEC Commissioner Hester Peirce. The finance departments of the two countries will continue to pass&34; Anglo American Financial Regulatory Working Group&34; Explore the path to supporting responsible development of digital assets. Since the beginning of this year, the UK has made multiple policy adjustments to support the cryptocurrency industry, including the revision of the Financial Services and Markets Act 2000 in January, which abolished strict supervision of domestic pledge service providers. This series of measures echoes the supportive attitude of the Trump administration towards the cryptocurrency industry in the United States.