Treasury authorities in the US and the UK have announced the development of a transatlantic task force to explore “short-to-medium term collaboration with digital assets.”
On Monday of notices, the US Treasury Department and HM Treasury Says Cross-country efforts, which take place through the established UK-US Financial Regulatory Working Group, will issue a report with recommendations within 180 days.
The new work force, called the Transatlantic Taskforce for the markets of the future, will consider the laws and regulations of crypto as well as how the two countries can cooperate with “wholesale digital changes in the market.”
The announcement Following the Financial Times report At a meeting last week between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bescent on how the two countries could cooperate in crypto regulation.
The discussion has been reported to include representatives from many cryptocurrency companies. At the same time, the Task Force said on Monday that it should “find input from leading industry experts to ensure that its recommendations are aware of what is most important in the industry.”
The US Treasury does not clearly state if the task force’s development is associated with any crypto -related law in Congress, such as the law to establish a plot for payment stablecoins, the Genius Act. Under the bill, signed by law in July, the US Treasury Department is required to drift regulations with the Federal Reserve before the implementation.
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Cryptocurrency Exchange Coinbase shared The US-Uk announcement on its blog on Monday, saying “proud” to support the cooperation. Daniel Seifert, the vice president of the exchange and director of regional management for Europe, the Middle East and Africa, is present in discussions between Reeves and Bessent, according to a spokesman for Coinbase.
Similar Crypto regulation techniques?
The US and UK both take steps to address regulatory issues affecting digital assets and companies holding them in 2025. UK prime minister Keir Starmer met with US President Donald Trump last week, Signing a Understanding Memorandum To explore the development of technologies, including artificial intelligence, even the deal is not legal binding.
While the UK Treasury under Reeves was told in April this Focus on crypto policies To “support the change while firing the scams,” the US side under the bessent pushed for an approach that suggests regulating the regulation.
The US secretary of Treasury said in August That the department explores the “Budget-Neutral Paths” to get Bitcoin (Btc) As part of the US government’s crypto reserve plans.
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