US and UK step up cooperation on cryptocurrency oversight amid global blockchain competition.
The United States and the United Kingdom are preparing to expand cooperation in supervising cryptocurrency markets, a move that international financial circles see as an important step in shaping the future of global digital finance.
The information was revealed after a meeting between British Finance Minister Rachel Reeves and US Treasury Secretary Scott Bessent on Tuesday. The meeting was attended by representatives of many large corporations in the banking and cryptocurrency sector such as Bank of America, Barclays, Citi, Coinbase, Circle and Ripple.
Cassie Craddock, Managing Director of Ripple UK & Europe, stressed that the partnership “could serve as a model for international collaboration in the digital asset industry.” She also noted that the UK, with its dynamic economy, deep Capital markets and rich human resources, has long been a global financial center and now has the opportunity to become a center of innovation in digital assets. Closer coordination with the US will help both countries exploit the full potential of blockchain technology.
Last week, several industry associations called on the UK government to include stablecoins and Tokenize in the US-UK Tech Bridge , an initiative aimed at strengthening collaboration in advanced technology areas including artificial intelligence, cybersecurity, space technology, quantum computing, biotechnology, and digital finance. The associations warned that if digital assets are left out of the program, the UK risks falling behind as other regions rapidly shape the future of the global financial system.
US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has proposed establishing a “cross-border sandbox” that would allow cryptocurrency companies in the US and UK to test operations under regulatory supervision for two years. This is considered a solution to help the blockchain industry develop in a controlled manner, while encouraging innovation while ensuring transparency and safety.
