The US and UK have issued a joint set of recommendations to deepen collaboration on digital assets and capital markets, aiming to foster coherence without imposing enforceable rules amid rapidly evolving tokenised markets.
The United States and the United Kingdom have set out a joint blueprint for closer cooperation on digital assets and capital markets, but the plan stops well short of creating enforceable rules.
According to a joint statement from the two treasuries, the Transatlantic Taskforce for Markets of the Future has produced 10 recommendations intended to deepen cross-border financial activity, reduce unnecessary friction and improve clarity for tokenised finance. Five of the proposals focus on digital assets, while the rest address capital raising, foreign issuer requirements, consolidated market data, swap-trading supervision and international accounting standards.
The taskforce was established in September 2025 by US Treasury Secretary Scott Bessent and UK Chancellor Rachel Reeves, bringing together officials from the Treasury departments, the Federal Reserve, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Bank of England and the Financial Conduct Authority. Its work is framed as a way to strengthen links between two of the world’s largest financial centres without replacing either country’s domestic regulatory process.
Officials want the recommendations to support a more coherent approach to tokenisation and stablecoins, including a pathway for regulated stablecoins to be used across both markets. The UK and US government statement says any future arrangement must preserve financial stability, consumer protection, market integrity and safeguards against illicit finance. It also backs one-to-one reserve backing and protections for holders if an issuer fails.
A private-sector-led industry group is expected to test cross-border uses for tokenised financial assets over a one-year period, while regulators in both countries examine how existing rules should apply to tokenised securities and related market infrastructure. Areas under review include settlement finality, the treatment of tokenised assets and whether stablecoins or tokenised money-market funds could be used as margin collateral at central counterparties.
Frank Hepworth, chief executive of New Market Trading, told crypto.news that the effort reflects a basic tension between global digital markets and national supervision. He said the two countries are responding to the fact that digital assets can be accessed across borders on phones and computers, while regulation is still mostly built around domestic institutions.
In his view, the recommendations do not by themselves change the legal position of issuers, exchanges or investors. “Importantly, none of the ten recommendations published in July creates binding rules by itself. They establish regulatory priorities and areas for cooperation, while the actual rules will still be made domestically.”
That distinction matters because both countries are still building their own rulebooks. In the US, the GENIUS Act, signed into law by President Donald Trump in July 2025, created a federal framework for payment stablecoins, including reserve requirements, issuer limits and disclosure obligations. Treasury has since proposed further rules on state-level supervision and anti-money-laundering compliance, but several required regulations missed the July 18, 2026 deadline.
In the UK, the regulatory timetable is different. The Bank of England has proposed a separate framework for systemic sterling-backed stablecoins, while the Financial Conduct Authority is preparing to supervise most other crypto activities. The Bank is taking comments on its draft code through September 22 and aims to finalise the rules by the end of 2026, with the broader regime expected to begin in 2027.
The transatlantic statement is therefore best understood as a signalling document rather than a rulemaking exercise: an attempt by Washington and London to keep pace with fast-moving tokenised markets while preserving their own supervisory authority. As Hepworth put it, the two governments are trying to ensure that regulation adapts to the technology rather than leaving their markets behind jurisdictions that move faster.
- https://crypto.news/us-uk-crypto-pact-sets-direction-not-binding-rules/ – Please view link – unable to able to access data
- https://www.gov.uk/government/publications/recommendations-of-the-transatlantic-taskforce-for-markets-of-the-future – The UK and US have published recommendations to advance financial services collaboration on digital assets and capital markets. The recommendations aim to deepen cross-border connectivity, reduce market fragmentation, accelerate the adoption of tokenisation in digital markets, and strengthen links between the two countries’ capital markets. The recommendations set out a shared, forward-looking agenda to advance UK-US financial services cooperation, opening a new chapter in the relationship between the world’s two leading financial centres.
- https://home.treasury.gov/news/press-releases/sb0560 – The U.S. Department of the Treasury and HM Treasury jointly published a set of recommendations of the Transatlantic Taskforce for Markets of the Future. The recommendations aim to deepen cross-border financial activity between the United States and the United Kingdom, reduce unnecessary frictions, and advance open, market-based standards that promote innovation and support growth. Building on deep and longstanding ties between U.S. and UK financial markets, the recommendations identify opportunities to enhance cross-border capital raising, update supervisory cooperation, and provide clarity for tokenized financial activity.
- https://genfinity.io/2026/07/14/us-uk-transatlantic-taskforce-digital-asset-roadmap-stablecoin-innovation/ – The US and UK Treasuries released a 10-point Transatlantic Taskforce roadmap to align stablecoin, tokenized securities, and cross-border digital asset rules. The roadmap does not create new rules. Instead, it maps areas where U.S. and UK regulators will coordinate more closely on shared standards. According to CoinDesk’s report on the release, the recommendations target the two largest capital markets in the world.
- https://www.gadgets360.com/cryptocurrency/news/us-and-uk-treasuries-seek-common-framework-for-tokenisation-and-stablecoins-crypto-regulations-crypto-laws-july-2026-11775298/amp – Joint task force outlines recommendations for cross-border digital asset cooperation. The US Department of the Treasury, along with HM Treasury, developed recommendations that were part of Transatlantic Task Force for the Markets of the Future, including activities of stablecoins and tokenised finance. On Tuesday, in a joint announcement, both of these treasuries made four recommendations with emphasis on digital currencies within the bilateral cooperation between the two countries regarding crypto finance markets.
- https://www.sullcrom.com/insights/memo/2026/July/US-UK-Treasuries-Publish-Recommendations-Digital-Asset-Capital-Market-Collaboration – On July 14, the U.S. Treasury and HM Treasury published a set of recommendations prepared by the Transatlantic Taskforce for Markets of the Future (the TTMF) to advance financial services collaboration between the United States and the United Kingdom, focusing on digital assets and capital markets. The U.S. Treasury and HM Treasury created the TTMF in September 2025 to strengthen bilateral collaboration with respect to digital asset innovation and capital markets. In relation to digital assets, there are five broad recommendations that are intended to ‘improve connectivity, enable more efficient and transparent markets, and inform potential alignment of regulatory frameworks.’
- https://www.haipay.net/news/uk-us-joint-statement-stablecoin-cross-border-payments – The United Kingdom and United States have set out a shared approach to stablecoins, supporting their use in cross-border payments and settlement while calling for at least one-to-one backing with high-quality liquid assets. The statement establishes common principles but does not yet create automatic regulatory recognition between the two markets. The UK and US intend to enable stablecoin use in cross-border finance, payments and settlement. Stablecoins presented as money should be backed at least one-to-one by high-quality liquid assets. Reserve assets should be segregated from issuers’ own funds and protected for stablecoin holders. Holders should have clear redemption rights and protected claims on reserves if an issuer fails. The two governments will explore pathways for stablecoins issued in one jurisdiction to enter the other market.
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The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The article was published on August 12, 2026, reporting on a joint statement from the US and UK treasuries regarding digital assets and capital markets. The Transatlantic Taskforce for Markets of the Future was established in September 2025, and the recommendations were published in July 2026. The article appears to be reporting on recent developments, with no evidence of recycled content. However, the source, crypto.news, is a niche publication, which may affect the freshness score.
Quotes check
Score:
7
Notes:
The article includes a quote from Frank Hepworth, CEO of New Market Trading, stating that the recommendations do not change the legal position of issuers, exchanges, or investors. A search for this quote did not yield earlier instances, suggesting it is original. However, the lack of independent verification raises concerns about the authenticity of the quote.
Source reliability
Score:
4
Notes:
The article is sourced from crypto.news, a niche publication. While it reports on recent developments, the lack of independent verification and the niche nature of the source raise concerns about reliability.
Plausibility check
Score:
6
Notes:
The article reports on a joint statement from the US and UK treasuries regarding digital assets and capital markets. The establishment of the Transatlantic Taskforce for Markets of the Future in September 2025 and the publication of recommendations in July 2026 are plausible and align with known events. However, the lack of independent verification and the niche nature of the source raise concerns about the plausibility of the claims.
Overall assessment
Verdict (FAIL, OPEN, PASS): REVIEW
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article reports on recent developments regarding the US-UK crypto pact, but concerns about the reliability of the source, lack of independent verification, and the niche nature of the publication warrant a review before publishing.