The United States and United Kingdom have formed a collaborative Transatlantic Taskforce designed to enhance regulatory alignment on capital markets and digital assets like Bitcoin (BTC) and Ethereum (ETH).
Announced on September 22 by U.K. Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent, the task force will unite officials from HM Treasury, the U.S. Treasury, and financial market regulators from both nations.
Key objectives include developing frameworks for digital asset oversight and identifying new opportunities within wholesale digital markets.
The group is mandated to report its findings and recommendations within 180 days via the established U.K.-U.S. Financial Regulatory Working Group, incorporating significant input from private sector stakeholders.
“London and New York are the foundational centers of global finance,” stated Reeves, emphasizing that technological evolution necessitates closer cooperation. Bessent reinforced this during a Downing Street meeting, describing the initiative as a pledge to foster financial innovation that transcends national borders.
Digital Assets as a Primary Focus
Although the task force's scope includes traditional finance, crypto assets are anticipated to be a major priority.
Officials will evaluate both immediate actions—such as enabling cross-border applications amidst evolving legislation—and long-term strategies for developing wholesale digital market infrastructure.
“The establishment of this joint U.K.-U.S. task force signals forthcoming significant advancements in crypto regulation across the Atlantic,” commented Mark Aruliah, Head of EMEA Policy at Elliptic.
Aruliah observed that while the U.S. has led with a pro-innovation stance, the task force demonstrates the U.K.'s strong intent to become more competitive in the crypto space.
Elliptic also characterized the partnership as an endorsement of the digital assets sector, suggesting that such structured cooperation could set a global benchmark for transparency and accountability if adopted by other jurisdictions.