UK, US form task force to align capital markets and crypto rules

The United Kingdom and the United States have established a ‘Future Markets Task Force’ to explore collaboration in capital markets and crypto regulation. This move could ease the way for crypto firms looking to operate on both sides of the Atlantic.

Chancellor of the UK, Rachel Reeves, and the US Treasury Secretary, Scott Bessent, decided to form the official group last week in Downing Street, before Trump’s state visit to Britain.

The UK Treasury said that the task force’s goal will be to make it easier for UK and US companies to get cross-border funding. Both Racheal Reeves and Scott Bessent will co-chair the task group. Also, regulatory bodies from both sides of the Atlantic will be members and will be in charge of overseeing capital markets and digital asset control.

BREAKING: The US and UK are joining forces on a new crypto task force to explore regulation cooperation. #CryptoCommunity #Trump #CryptoTaskForce https://t.co/wQ9PcPvzrT pic.twitter.com/PFq7MzhW4j

— Roundtable Network (@RTB_io) September 22, 2025

The group has been tasked to deliver recommendations within 180 days on coordinating policy for emerging financial technologies, including digital assets, stablecoins, and tokenized securities. “This is about unlocking opportunities for investors, businesses, and market participants on both sides of the Atlantic,” a Treasury official said.

Coinbase offers support to the joint task force

Coinbase has announced its support for the UK and the US collaboration. According to the crypto exchange, “The US and UK have deep capital markets […] Cooperation between these two leading financial centres is critical given the profound opportunity facing global capital markets, coming from tokenisation.”

Coinbase has suggested that the two nations focus on tokenising traditional financial assets, stablecoin leadership, and mutual recognition of the regulatory regimes.

According to Coinbase, tokenization will change how global capital markets work and make financial services more accessible to everyone. It will also allow regular investors to trade, borrow, and invest in ways only possible for big investors.

In addition, the company said that the US is leaning into stablecoins as part of its strategic focus on tokenisation of traditional financial assets. On the other hand, the Bank of England is proposing caps that will effectively preclude the use of stablecoins in wholesale markets. 

“The UK needs stablecoin leadership, and a viable Sterling stablecoin, to deliver on the opportunities associated with this partnership, and to drive progress in capital market innovation more generally,” the company added. 

Crypto companies move their listings from London to New York 

Since returning to the White House in January, Donald Trump has appointed crypto-friendly regulators, dismissed lawsuits against major companies in the sector, and passed landmark legislation overseeing stablecoins. 

By contrast, Britain has been accused by crypto executives of dragging its feet on regulation, leaving it lagging behind the US and other rival financial centres.

Last month, former Conservative chancellor George Osborne launched a withering attack on the Labour government’s approach to crypto. He warned that Britain risked becoming irrelevant in a revolution reminiscent of Nigel Lawson’s Big Bang in the 1980s. 

Osborne, who now sits on the global advisory council of US crypto exchange Coinbase, said Reeves and Bank of England governor Andrew Bailey were leaving Britain in the slow lane.

The joint task force comes as the UK tries to get its capital markets back on track after a long period of decline. As a result, many companies have moved their listings from London to New York in search of better valuations. Therefore, this initiative is expected to revive the country.

The UK Cryptoasset Business Council, a trade group, said the task force’s announcement marked a clear vote of confidence from the US in the UK economy. “Get this right and it has the potential to turbocharge the City of London and the transatlantic economy,” it added.

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