The U.S. and the U.K. have come together to collaborate on crypto regulations. In order to do so, the countries have formed a new group dubbed — the Transatlantic Taskforce for Markets of the Future. The aim of this group is to ramp up efforts of the two nations to work on “wholesale digital markets innovation”.
Rachel Reeves, U.K.’s Chancellor of the Exchequer, confirmed the development on X, highlighting that the relation between America and Britain are deeply linked with GBP 1.2 trillion invested between the two countries.
“Scott Bessent (U.S. Treasury Secretary) and I have established the Transatlantic Taskforce for Markets of the Future, enhancing collaboration on key topics such as capital markets and digital assets,” she posted.
Bessent met Reeves at Downing Street, London last week for a joint industry roundtable. The ways to develop regulations to allow investors, businesses, and market participants on both sides of the Atlantic explore fintech and business advancements was a priority topic for this roundtable.
Back in April 2018, HM Treasury (HMT) and the U.S. Department of the Treasury had established the UK-U.S. Financial Regulatory Working Group (FRWG). This group will now serve as a bridge to connect the newly formed Transatlantic Taskforce with the finance ministers of both the countries.
The taskforce has been tasked with listing recommendations to elevate U.S.-U.K. cooperation on capital markets and digital assets.
“The purpose of the Taskforce is to explore: Options for short-to-medium term collaboration on digital assets and focus on long-term collaboration and additional opportunities for wholesale digital markets innovation,” an official statement from the U.S. Department of Treasury noted.
The taskforce has been allotted a window of 180 days to report its recommendations upon consulting with industry experts from the capital markets and digital assets regulations.
On the regulatory front, the U.S. has already announced an array of policy changes to accommodate the crypto industry under President Donald Trump. The U.K. meanwhile, is eyeing 2026 to be ready with a comprehensive set of rules to oversee the digital assets sector.