On September 22, U.S. Treasury Secretary Scott Bessent and UK Chancellor of the Exchequer Rachel Reeves announced the establishment of the Transatlantic Taskforce for Markets of the Future , focusing on regulatory collaboration in areas such as cryptocurrencies and digital assets. This move follows last week's meeting between U.S. President Trump and British Prime Minister Keir Starmer. Both countries will submit specific proposals within 180 days and invite industry leaders to participate.
Trump's state visit to the UK aims to strengthen bilateral cooperation on digital asset regulation
The news was announced during Trump's state visit to the UK. The main purpose of the newly established working group is to help companies in both countries raise funds more smoothly across borders, while strengthening cooperation on crypto asset supervision and policy, especially at a critical time when digital asset regulations in both countries are still under adjustment.
Propose preliminary recommendations within 180 days to align UK and US regulatory direction
The group will be co-chaired by officials from the finance ministries of both countries, and will include representatives from regulatory agencies and industry experts. The main core objectives are:
Explore short- to medium-term digital asset regulatory cooperation solutions
Research on "Wholesale Digital Markets Innovation"
Collect opinions from industry experts to ensure that the suggestions meet actual needs
The first report is expected to be submitted within 180 days, with detailed recommendations expected as early as early next year. These recommendations will serve as an important basis for future coordination between the UK and the US in financial regulation and digital asset policy, and are expected to serve as a model for other global financial centers.
Digital assets become a focus of cooperation, with unanimous support from the government and industry.
This initiative specifically prioritizes digital assets, highlighting the crucial role of crypto-finance in the global financial system. Following the announcement of this partnership, Circle's Chief Strategy and Head of Global Policy, Dante Disparte, stated on LinkedIn that this marks a significant milestone in promoting innovation and trust in blockchain and digital assets.
British Chancellor of the Exchequer, Clement Lewis, also posted on Twitter (X) after the news was released, praising the cooperation between the two countries.
The City of London: New International Connections After Brexit
Despite the UK's departure from the European Union, its capital, London, remains a global financial powerhouse. According to TheCityUK, a UK financial lobbying group, London's financial and related professional services sector accounts for over 12% of the UK's GDP.
This UK-US cooperation is a shot in the arm for financial centers like London, because closer ties with the US capital market will not only make up for the loss of the European single market, but also help attract global funds and start-ups to invest in London.
The article " UK and US establish digital asset regulatory group to strengthen crypto finance and digital market innovation" first appeared in ABMedia ABMedia .
