The United States and the United Kingdom said last week they will form a joint task force to boost cooperation on digital assets and to ease cross-border rules for capital markets.
The move came after US Treasury Secretary Scott Bessent met Chancellor Rachel Reeves at Downing Street. The new body will sit under the UK-US Financial Regulatory Working Group and will report to both finance ministries. It must deliver recommendations within 180 days and will work closely with industry and regulators on both sides.
Taskforce role and timeline
Officials said the Transatlantic Taskforce for Markets of the Future will explore ways to coordinate short to medium-term work on digital assets while laws are still being shaped.
It will also look at longer-term options for wholesale market innovation. The group will be led by officials from HM Treasury and the US Treasury, and regulators responsible for capital markets and digital assets will join as appropriate.
The task force has a clear deadline, and it should report back in 180 days to the FRWG. The plan calls for input from industry experts. Officials want recommendations that investors and firms can use soon.
Focus areas
The work will cover two main areas, and first, options for practical collaboration on digital assets while regulatory systems are developing. Second, ways to make it easier for UK and US firms to raise capital across borders. The aim is to reduce paperwork and other barriers that can slow cross-border deals.
Officials said the task force will consider how market links can grow and how both markets can stay competitive. It will weigh changes that ease capital flow but do not cut corners on safety or oversight.
Industry reaction
The move won a warm response from some researchers. Carlos Guzman, vice president of research at GSR, said the task force could help digital assets play a larger role in both economies.
Market voices have long flagged differences between US and UK rules. Those gaps have made cross-border investment harder.
Officials said they will seek views from banks, exchanges, asset managers and tech firms. The goal is to make sure recommendations reflect what matters to market users and to firms that build new services.
Regulatory backdrop
The announcement comes as both countries step up work on rules for new finance. In the UK, the government has signalled support for innovation while also promising action to tackle fraud.
In the US, the GENIUS Act was signed into law in July and set out a formal framework for stablecoins. Those moves show regulators are rethinking how to handle new tech and tokens.
The task force will need to account for those national moves. It must find areas where closer alignment is possible without forcing identical rules. Officials said they want practical steps that can be taken now while more formal regimes are shaped.
What this could mean?
If the taskforce succeeds, firms may find it easier to list, trade and raise funds across the Atlantic. Better ties could lower costs and speed up deals, and for digital asset firms, clearer cross-border paths might open new markets and bring more investors.
But the work faces limits, as different legal systems and political priorities could slow agreement. Some market players worry that any loosening of cross-border rules could raise risks if oversight is not aligned.
Next steps and public input
Officials said they will set up a process for industry input, and the task force will meet with experts and publish its findings once the work is done. The FRWG will review the recommendations and decide what actions to take.
The new Transatlantic Taskforce aims to turn shared goals into practical steps. It has a tight timetable and a clear brief to work with the industry.
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