The US and UK are creating a working group on cryptocurrency and capital markets.
On Monday, the US and UK Treasury Secretaries, Scott Bessent and Rachel Reeves, announced the launch of a new joint initiative. London and Washington agreed to create a working group to address cryptocurrencies and capital markets.
The idea is simple: to establish the rules of the game and remove barriers to cross-border investment. The group will bring together the treasuries of the two countries and market regulators. The first proposals are promised to be presented within six months.
What they want to achieve:
The main focus is promised to be on digital assets. The agenda includes both quick measures, such as facilitating cross-border transactions, and long-term steps, such as creating a common infrastructure for digital markets.
Rachel Reeves reiterated that London and New York remain key hubs of the global economy: “Closer cooperation is simply necessary, especially when technology is changing finance so rapidly.”
Scott Bessent added that the goal of the initiative is to ensure that innovation does not stop at national borders.
Industry Reaction
Experts call this an important signal. According to Mark Arulia of Elliptic, the US has long set the pace in crypto regulation, and now the UK is showing it doesn’t want to fall behind.
“This partnership could become a benchmark for the entire world: transparency, clear rules, fewer gray areas. If the US and UK reach an agreement, other countries will be forced to follow suit,” he says.
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