Quick Summary
- The U.S. and UK Treasuries launched the Transatlantic Taskforce for Future Markets on September 22, 2025.
- The task force is charged with providing cryptocurrency regulation proposals within 180 days, working through the established UK-US Financial Regulatory Working Group.
- Key areas of focus include oversight of digital assets, fostering innovation in wholesale digital markets, and improving cross-border collaboration.
- UK Finance Minister Rachel Reeves and U.S. Treasury Head Scott Bessent revealed the alliance during meetings that included representatives from various crypto firms.
- Coinbase participated in the conversations and voiced their approval of the regulatory cooperation between the US and UK.
In a move to enhance cooperation on digital asset oversight and cryptocurrency regulation, the United States and the United Kingdom jointly announced the creation of a new task force on September 22, 2025. This collaborative effort, named the Transatlantic Taskforce for Markets of the Future, will involve officials from both nations’ treasury departments and regulatory bodies.
The announcement was made by UK Finance Minister Rachel Reeves and U.S. Treasury Head Scott Bessent after discussions between the two governments. The task force will operate within the existing framework of the UK-US Financial Regulatory Working Group, an entity already focused on financial cooperation between the two countries.
The UK and US are deeply linked with £1.2 trillion invested between us.
Today @SecScottBessent and I have established the Transatlantic Taskforce for Markets of the Future, enhancing collaboration on key topics such as capital markets and digital assets.https://t.co/gdtZFzMJXx
— Rachel Reeves (@RachelReevesMP) September 22, 2025
The new initiative will primarily concentrate on crafting strategies for digital asset oversight and identifying opportunities within the evolving wholesale digital markets. Government officials plan to assess both near-term solutions for cross-border cryptocurrency applications and longer-term blueprints for digital market infrastructures.
The task force is mandated to present its findings and recommendations within a 180-day timeframe. These recommendations will be formulated with close collaboration with stakeholders from the private sector to ensure they effectively address actual market needs.
Industry Involvement and Endorsement
Coinbase, a leading cryptocurrency exchange, actively participated in the discussions between treasury representatives from both nations. Daniel Seifert, Coinbase’s VP and EMEA Managing Director, attended the meetings between Reeves and Bessent.
Coinbase released a statement expressing enthusiasm for the partnership. The company declared its “proud” support for the U.S.-UK regulatory cooperation endeavor.
Representatives from various other cryptocurrency companies were also present during the treasury discussions. The task force has affirmed its commitment to gathering input from prominent industry professionals to ensure the recommendations align with industry priorities.
Regulatory Methods and Timelines
In recent months, both the U.S. and UK have been adopting distinct approaches to cryptocurrency regulation. Under Reeves’ leadership, the UK Treasury has been focusing on nurturing innovation while tackling fraud concerns within the cryptocurrency space.
In the United States, Treasury Head Bessent’s approach has emphasized reducing regulatory obstacles. Bessent has previously indicated that the Treasury Department would investigate potential methods for acquiring Bitcoin as part of the US government’s crypto reserve strategy.
Objectives for Cross-Border Collaboration
The task force’s primary goal is to harmonize regulatory approaches between the two prominent financial hubs. Minister Reeves characterized London and New York as “the twin cornerstones of global finance,” stressing the importance of tighter coordination as technological advancements reshape markets.
Treasury Head Bessent described the project as a dedication to ensuring financial market innovation “does not stop at borders.” The collaboration aims to facilitate international digital asset activities while upholding regulatory standards.
Mark Aruliah from the blockchain analytics firm Elliptic portrayed the collaboration as a validation of the digital asset sector. He proposed that the task force could establish a worldwide standard if other nations adopt comparable methodologies.
This announcement follows a broader memorandum of understanding signed by UK Prime Minister Keir Starmer and US President Donald Trump. This agreement explores collaboration on diverse technologies, including artificial intelligence, but is not legally binding.
The respective treasury departments will work together to devise pragmatic solutions for digital asset regulation, potentially influencing international standards for cryptocurrency oversight and cross-border financial collaboration.