The United Kingdom and the United States have reached an agreement to deepen cooperation in the regulation of digital assets, announcing the launch of a joint “Transatlantic Working Group for Future Markets.” This initiative is expected to promote the development of capital markets and the formation of coordinated approaches to crypto regulation.
This is reported by Business • Media
Objectives and Structure of the New Working Group
UK Finance Minister Rachel Reeves and US Treasury Secretary Scott Bessent agreed to establish the group during talks in London, ahead of US President Donald Trump’s state visit. The working group is expected to formulate its initial recommendations within 180 days of its launch. Its main areas of activity will include exploring short- and medium-term formats for cooperation in the field of digital assets, while relevant legislation and regulatory frameworks are still being refined.
The group will include representatives from the finance ministries of both countries, as well as regulators responsible for capital markets and digital assets. One of its key tasks will be to reduce barriers for British and American companies seeking to raise capital across borders.
Context: Market Trends and Reactions
The initiative arose amid efforts by London to restore the competitiveness of its markets following the exodus of companies to New York, as well as the active support for the crypto industry by the Trump administration. Since the beginning of his new presidential term, the US has appointed crypto-friendly regulators, including Paul Atkins as head of the Securities and Exchange Commission (SEC) and French Hill at the helm of the House Financial Services Committee. During this term, the SEC has closed several significant lawsuits against major companies, including Robinhood, Uniswap, Consensys, Coinbase, Kraken, and Yuga Labs, and has also approved legislation on stablecoins.
In the UK, the approach to crypto regulation has faced some criticism. Former Chancellor George Osborne warned that the country risks losing its leadership position in the financial sector if it remains “in the slow lane” during the next financial revolution, similar to the reforms of the 1980s.
“This is a clear testament to the confidence of the US in the UK economy. If done right, it could provide a powerful boost to the City and the transatlantic economy.”
At the same time, the British financial regulator recently announced the possibility of exemptions for crypto companies and a simplification of the rules for their operations.
Recently, the UK and the US also signed a “Technology Prosperity Agreement” aimed at developing joint projects in the fields of artificial intelligence, quantum computing, and nuclear energy.