US-UK Taskforce Publishes Digital Asset Recommendations
The US and UK have jointly published recommendations to deepen cross-border financial activity between the two countries. The Transatlantic Taskforce for Markets of the Future aims to reduce unnecessary frictions and advance open, market-based standards that promote innovation and support growth.
The taskforce's proposals focus on digital assets, calling for a one-year, private sector-led group to test cross-border tokenized asset use cases and share best practices. The report also suggests that the Bank of England, CFTC, Financial Conduct Authority (FCA), and SEC identify common regulatory approaches to tokenized assets.
The US and UK have expressed their intent to enable stablecoins' use in cross-border finance and committed to support policy frameworks allowing stablecoins, tokenized deposits, and other digital money to coexist in a multi-money ecosystem. The taskforce's recommendations also direct FCA and SEC staff to explore options facilitating cross-border capital raising.