The US and the UK have established a joint transatlantic taskforce aimed at boosting cooperation in capital markets and digital ownership.
The task force, announced In Sep.
Two of the goals of the Task Force are the development of digital asset oversight techniques and explore new opportunities in wholesale digital markets.
The group will report within 180 days through the existing UK -US Financial Regulatory Working Group, which delivers recommendations shape to close consultation in the private industry, the release said.
“London and New York remain Twin Pillars of Global Finance,” Reeves said, adding that the closer the alignment is important as the technologies are re -revealing the markets. Bessent wrote the emotion during a downfall of the street, calling the initiative a commitment to ensure a change in financial markets “does not stop the boundaries.”
Crypto ahead
While the Task Force remit covers traditional capital markets, digital assets are expected to take the stage.
Officials will look at the same short-term steps, such as facilitating cross-border use cases as the law remains in flux, and long-term techniques for the promotion of wholesale digital market infrastructure.
“In creating a joint UK-US work force in capital markets and digital properties, we can expect significant developments on both sides of the Atlantic,” Mark Aruliah, head of EMEA policy and elliptic regulatory activities, said in an email.
While noticed that the US has “set the speed of a pro-innovation agenda,” Aruliah suggested that the Task Force “indicates a strong intent to close that space and position the UK with more competitive.”
Widely, the firm described the cooperation as a validation of the digital assets industry itself: “The structured cooperation in this type will boost a shared promise to higher standard of transparency and responsibility, and may establish a global benchmark if other constituents follow the suit.”
