Overview

• Announced during President Donald Trump’s state visit, the initiative was unveiled by UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent.
• The taskforce has a six-month mandate to develop recommendations on digital assets and wholesale digital market frameworks, with initial outputs expected in early 2026.
• Priority topics include stablecoin oversight, custody and exchange licensing, disclosures, interoperability, and cross-border compliance.
• HM Treasury and the US Treasury will co-chair the effort, with expected participation from the FCA, SEC, and CFTC through the UK–US Financial Regulatory Working Group.
• The group will not set binding rules, with any harmonization to flow through domestic processes that already include near-final UK stablecoin rules for 2026 and US steps such as the GENIUS Act and proposed CLARITY Act.