- The US and UK launched a crypto task force to harmonize laws and strengthen market rules.
- Task Force will address stablecoin rules and enhance investor safety in both nations.
- Officials aim to reduce cross-border friction and establish a regulatory framework.
Treasury authorities in the US and UK announced the formation of a new transatlantic crypto task force. The initiative will operate through the UK-US Financial Regulatory Working Group and release recommendations within 180 days. Both finance ministries confirmed the task force would examine stablecoins, digital asset classification, and market safeguards to reduce cross-border regulatory friction.
Building a Shared Framework
The Transatlantic Taskforce for Markets of the Future will study how the two nations can align oversight of digital assets. Approval came from UK Finance Minister Rachel Reeves and US Treasury Secretary Scott Bessent during President Donald Trump’s recent state visit to Britain.
Officials from both ministries will chair the new body, which will also involve regulators from each country. The US Treasury Department confirmed the group will explore “short-to-medium-term collaboration on digital assets” and “wholesale digital markets innovation.”
Representatives from leading cryptocurrency companies joined the discussions, according to Monday’s notices. Authorities stated the task force would seek input from industry experts to ensure recommendations reflect actual business concerns. Coinbase shared its support in a blog post, with its regional executive, Daniel Seifert, attending the discussions between Reeves and Bessent.
Aligning Oversight of Stablecoins and Securities
At the center of the effort lies the harmonization of crypto oversight, particularly in the classification of stablecoins and securities. The group intends to address reserve requirements, issuer duties, and consumer protections to coordinate stablecoin frameworks across the Atlantic.
By aligning how assets are labeled as securities or non-securities, the task force seeks to reduce uncertainty and potential regulatory arbitrage. Officials said recommendations would also cover anti-money laundering standards and custodial safeguards.
A Treasury Department statement noted that the task force will deliver findings to both finance ministries through the Financial Regulatory Working Group. The report will include proposals on capital markets, digital assets, and other innovative financial activities. “These recommendations are to be developed in close collaboration with industry partners, ensuring we unlock opportunities for investors, businesses, and market participants,” the Treasury added.
Although the announcement did not directly reference US legislation, the initiative comes shortly after Congress passed the GENIUS Act, establishing a framework for payment stablecoins. Under that law, the Treasury must work with the Federal Reserve on new regulations. Could the task force shape how such frameworks influence international collaboration?
Related: Stablecoin Talks: UK and US Strengthen Digital Asset Ties
Contrasting Global Approaches
The UK’s financial sector has faced challenges since the Brexit vote, with some firms shifting listings to US markets. To strengthen its digital asset industry, Britain has leaned toward aligning with US practices, using existing regulation rather than creating new laws like the European Union’s MiCA framework.
Market integrity will be another focal point of the task force. Both countries plan to examine investor protections, disclosure rules, custodial governance, and oversight of token intermediaries. Officials will also consider digital securities sandboxes where new models can be tested under joint supervision.
This US-UK effort contrasts with approaches in other regions. France has pursued centralized oversight, requiring strong state involvement and licensing for crypto firms. Malta, in contrast, has been more permissive, attracting blockchain businesses with lighter requirements and favorable tax incentives.
These different regulatory approaches have produced a fragmented view of the issues at hand. The joint transatlantic initiative seeks to move beyond these divisions by establishing a cooperative framework. While the more harmonized legislation in the Union by a MiCA law will cause some changes, its heavier supervision and new institutional requirements tend to depart from the more balanced model that we suspect is being thought about in the U.S. and UK.
