The U.S.-U.K. Transatlantic Taskforce for Markets of the Future published a set of recommendations aimed at advancing the joint development of capital markets and digital assets, including stablecoins, while deepening cooperation in cross-border financial activity.
The U.S. Department of the Treasury and HM Treasury released a joint package of recommendations prepared by the Transatlantic Taskforce for Markets of the Future, a bilateral working group focused on capital markets and digital assets. The document outlined measures to strengthen cooperation between the two economies, reduce regulatory barriers, and create a more favorable environment for financial market innovation.
The recommendations focused on several key areas:
- expanding opportunities for international capital raising;
- strengthening cooperation between U.S. and U.K. supervisory authorities;
- providing greater legal clarity for tokenized financial instruments;
- maintaining ongoing dialogue with financial industry participants as markets evolve.
U.S. Treasury Secretary Scott Bessent said the Taskforce’s work reflected the strong ties between the two countries’ financial markets and their shared commitment to supporting economic growth while shaping international standards that encourage innovation and competition.
Alongside the recommendations, the U.S. and the U.K. also released a joint statement on the stablecoin market. The document outlined 10 core principles for bilateral cooperation on stablecoins, including:
- recognizing stablecoins as an important driver of digital financial innovation and supporting their use in cross-border payments and settlements;
- promoting competition and the coexistence of different forms of digital money, including tokenized deposits;
- developing a harmonized legal and supervisory framework while aligning regulatory requirements across the U.S. and the U.K.;
- integrating regulated stablecoins into payment infrastructure, settlement systems, and tokenized financial markets while preserving fair access to banking services;
- establishing common approaches to reserves, protecting stablecoin holders’ assets, and coordinating responses in the event of issuer insolvency;
- creating reciprocal market access mechanisms for stablecoins issued in the U.S. and the U.K. while avoiding excessive regulatory restrictions that could hinder innovation and competition.
The Transatlantic Taskforce for Markets of the Future was established in September 2025 by U.S. Treasury Secretary Scott Bessent and U.K. Chancellor Rachel Reeves during President Donald Trump‘s state visit to the U.K. The group brought together representatives from the finance ministries and financial regulators of both countries.
The Taskforce developed its recommendations following consultations with financial industry participants from the U.S. and the U.K. Those discussions identified practical measures to improve market efficiency and strengthen both countries’ leadership in global finance.
Several months earlier, the U.S. president signed an executive order to modernize FinTech regulation and integrate digital assets into the traditional financial system, while U.S. senators introduced an updated version of the CLARITY Act. At the same time, U.S. regulators called for stricter requirements for stablecoin issuers. In parallel, the U.K. government unveiled a package of reforms to modernize the country’s payments market. The Financial Conduct Authority continued developing rules for pound-denominated stablecoins, while the Bank of England eased reserve composition requirements for issuers of those stablecoins.
