The US and UK are deepening their cooperation around financial activities, prompting celebration from crypto industry players.
On Monday, UK finance minister Rachel Reeves and US Treasury Secretary Scott Bessent established the Transatlantic Taskforce for Markets of the Future, which aims to enhance collaboration on capital markets, digital assets, and other financial activities.
“This is an opportunity for two of the largest trade partners to sync on regulations, and unlock crypto for a host of uses,” Mike Maloney, CEO of Incyt, a New York-based firm that provides trading software and Bitcoin miner financing, told DL News.
The news comes amid a flurry of initiatives announced as part of President Donald Trump’s state visit to the UK last week.
Since Trump took office in January, the US has prioritised regulating the crypto industry. The government passed landmark stablecoin legislation in July.
So far, crypto regulation in the US has received broad support across the political spectrum, and is viewed favourably by the industry.
UK lawmakers and regulators have been slower to offer a clear steer on digital assets.
In recent weeks, the Financial Conduct Authority has opened a consultation on crypto rules, while a parliamentary group is working to bring crypto back to the forefront of the legislative process after a long hiatus.