Overview

• Announced on Sept. 22, the task force was agreed by UK Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent during President Donald Trump’s state visit.
• The group is co‑chaired by HM Treasury and the U.S. Treasury with participation from market regulators, with reporting routed through the UK–US Financial Regulatory Working Group.
• It has 180 days to propose measures for near‑term digital‑asset coordination and longer‑term innovation in tokenized wholesale markets, alongside steps to ease transatlantic capital raising.
• Focus areas flagged by officials include stablecoin oversight, asset custody standards and anti‑money‑laundering requirements, with the aim of reducing duplicative compliance for firms.
• Recommendations will be developed with industry input after meetings that included Coinbase, Circle, Ripple, Citi, Bank of America and Barclays, and any changes would require subsequent rulemaking or legislation in each country.