The US and UK have established a common transatlantic task force aimed at strengthening cooperation in capital markets and digital assets.
The Task Force, announced on September 22 by British Chancellor of Tax Rachel Reeves and US Finance Minister Scott Bessent, brings together officials from HM Treasury, US Ministry of Finance and market regulators across both jurisdictions.
Two of the Task Forcen’s goal is to develop approaches to digital asset surveillance and explore new opportunities in wholesale digital markets.
The group will report within 180 days through the existing British – US financial regulatory work group that delivers recommendations shaped in close consultation with the private industry, release says.
“London and New York remain the double columns of global funding,” Reeves said, adding that closer adaptation is important when technology transforms the markets. Bessent repeated this mood during a roundtable -downing and called the initiative of an obligation to secure innovation in the financial markets “does not stop at borders.”
Krypto in the tip
While Task Force’s transfer spans traditional capital markets, digital assets are expected to take the center.
Officials will look at both short -term measures, such as facilitating cross -border cases, while legislation remains in Flux and long -term strategies to promote wholesale digital market infrastructure.
“With the creation of a common UK-US Task Force in capital markets and digital assets, we can expect meaningful development on both sides of the Atlantic,” Mark Aruliah, head of EMEA policy and regulatory affairs at Elliptic, said in an email.
While noting that the United States “has set the pace with a pro-innovation agenda,” Aruliah suggested that the task force “signalize a strong intention to close this gap and place the United Kingdom more competitive.”
More broadly, the company described the collaboration as a validation of the Digital Assets industry itself: “Structured cooperation of this kind will strengthen a common commitment to higher standards of transparency and accountability and can establish a global benchmark if other jurisdictions follow.”
