CandleFocus UK Appoints Emma Reynolds as Economic Secretary to Oversee Crypto
2025-01-15
Author: Content Editor
The U.K. government has appointed Emma Reynolds as the new Economic Secretary, responsible for overseeing digital assets and central bank digital currencies. This comes after the resignation of Tulip Siddiq, who had outlined the government's plans for crypto regulation. It is unclear how Reynolds' appointment will affect the country's crypto plans, but the Financial Conduct Authority has already established its own crypto regime. Reynolds has previous experience at TheCityUK and has expressed the benefits of being a second mover in the EU. Lobby group CryptoUK has welcomed her appointment. Siddiq resigned due to pressure from an anti-corruption investigation in Bangladesh, where her family was accused of embezzling funds. Despite the change in government, the U.K. is expected to continue with its regulatory plans for crypto and stablecoins.
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