Emma Reynolds, former parliamentary secretary to the Treasury, has been appointed as the new economic secretary.

Reynolds' appointment follows the resignation of Tulip Siddiq, who resigned earlier letter To the Prime Minister. Friend, the Member of Parliament for Hampstead and Highgate, gave personal reasons for her departure.

The new Economy Minister will play a key role in shaping the government's cryptocurrency regulatory agenda. In addition to digital assets, Reynolds will oversee the UK's central bank digital currency plans.

Her appointment comes as the UK continues to push for greater regulatory compliance in the cryptocurrency sector. The government has taken this approach over the past few years as part of its ambition to become a leading hub for digital asset innovation.

Market watchdogs, such as the Financial Conduct Authority, have adopted a more supportive stance toward the cryptocurrency industry in recent months, which contrasts with the tougher approach taken by the United States under outgoing SEC Chairman Gary Gensler.

The landscape has changed since the election of Donald Trump, and industry players are optimistic about what the SEC's new leadership could mean for the US cryptocurrency ecosystem, where Trump will be inaugurated on January 20.

Such as crypto.news HighlightThe SEC plans to move away from a “regulation by enforcement” strategy and freeze some ongoing litigation that does not involve fraud.

While it remains to be seen how Reynolds will influence crypto policies in the UK, the general feeling is that the country aims to remain competitive amid growing global adoption of cryptocurrencies.

In December 2024, EU crypto asset market rules come into full force, with industry players keen to capitalize on... Mica clarity Offers to expand throughout the block.

UK legislation on cryptocurrencies and stablecoins is expected to be completed in early 2025.