The Transatlantic Taskforce for Markets of the Future (TTMF) has published a set of recommendations aimed at deepening cooperation between the United Kingdom and the United States on digital asset regulation. The initiative, launched during President Donald Trump's visit to the UK in September 2025, was officially presented by Chancellor of the Exchequer Rachel Reeves and US Secretary of the Treasury Scott Bessent.
Central to the recommendations is a push to leverage their positions as leading global financial centres to shape digital asset markets and next‑generation financial infrastructure. The proposals focus on improving cross‑border connectivity, reducing market fragmentation, and accelerating the adoption of tokenization. Both nations have already begun legislative efforts: the US has approved or is developing laws to foster digital asset innovation, while the UK is implementing rules that balance consumer protection with support for crypto innovation.
Coinbase's Head of Policy for Europe, Katie Harries, welcomed the move, calling it "a tremendous opportunity ... to reimagine global capital markets through tokenisation." She highlighted the taskforce's support for stablecoins as a cross‑border settlement asset and the commitment to regulatory alignment.
The recommendations include ten specific action points. Among them: the creation of a private‑sector‑led group to test cross‑border use cases for tokenized assets; efforts by the Bank of England, CFTC, FCA, and SEC to identify common regulatory approaches for tokenized securities and eligibility of stablecoins as margin collateral; a joint statement on stablecoins to foster a dynamic cross‑border market; support for a multi‑money ecosystem where stablecoins, tokenized deposits, and other digital money coexist; and a targeted review of international prudential standards for cryptoassets through the Basel Committee on Banking Supervision.
Capital‑market recommendations also feature prominently, including plans to facilitate cross‑border capital raising, reforms to the SEC's Foreign Private Issuer framework, collaboration on consolidated tapes, and converting temporary relief for UK Swap Execution Facilities into longer‑term arrangements.
HM Treasury and the US Department of the Treasury affirmed they will continue engaging with private firms. The overarching vision is a digital‑finance transition that reduces friction, enhances services, and broadens access, while acknowledging the need for balanced rules to address systemic risk.
