Overview
- Officials from HM Treasury and the U.S. Treasury will co-chair the taskforce with participation from regulators on both sides, including market and digital-asset overseers.
- The mandate covers near-term coordination on stablecoins, anti-money-laundering standards, and custody, alongside longer-term work on wholesale digital market infrastructure and tokenization.
- The initiative aims to reduce red tape and make cross-border capital raising easier for firms operating in the two financial hubs.
- Approval followed a Downing Street meeting during President Donald Trump’s state visit, after a Sept. 17 roundtable with Coinbase, Circle, Ripple, Citi, Bank of America, and Barclays.
- Industry voices say the effort could set a transatlantic benchmark and boost the U.K.’s competitiveness, though any policy shifts will depend on the taskforce’s forthcoming recommendations.