The UK and US have agreed to form a joint taskforce to
strengthen cooperation on capital markets and digital assets, signaling a new
phase in transatlantic financial collaboration.
The move came during President Donald Trump’s state
visit to the UK last week, where both governments unveiled a series of
initiatives to bolster economic ties.
A Transatlantic Effort
According to Bloomberg, the new body, called the
Transatlantic Taskforce for Markets of the Future, will focus on lowering
barriers for companies raising capital across borders. It will also explore
avenues for cooperation on digital assets while legislative frameworks in both
countries continue to evolve.
According to the UK government, the taskforce will
deliver recommendations within 180 days. It will be chaired by officials from
both finance ministries, with input from regulators and industry experts to
ensure that its findings reflect the needs of businesses.
Even after leaving the European Union, the UK remains
a global financial powerhouse. TheCityUK, a lobbying group, notes that finance
and professional services contribute more than 12% of the country’s GDP. For many in the City of London, closer ties with Wall
Street offer a way to counterbalance the reduced access to European markets.
Crypto at the Forefront
The UK has emerged as a major hub for digital assets,
often ranked as the second-largest market for exchanges such as Coinbase, after
the US. This status has drawn significant investment from global crypto firms
and increased engagement with policymakers.
Across the Atlantic, the White House held its first
crypto summit earlier this year, underscoring Washington’s growing focus on
digital assets. President Trump has issued several executive orders aimed at
embedding crypto into the broader financial system.
The taskforce is expected to deliver its first
findings by early next year. Its recommendations could help shape how London
and Washington align financial regulation and digital asset policy in the years
ahead, potentially setting a benchmark for other global financial hubs.
The UK and US have agreed to form a joint taskforce to
strengthen cooperation on capital markets and digital assets, signaling a new
phase in transatlantic financial collaboration.
The move came during President Donald Trump’s state
visit to the UK last week, where both governments unveiled a series of
initiatives to bolster economic ties.
A Transatlantic Effort
According to Bloomberg, the new body, called the
Transatlantic Taskforce for Markets of the Future, will focus on lowering
barriers for companies raising capital across borders. It will also explore
avenues for cooperation on digital assets while legislative frameworks in both
countries continue to evolve.
According to the UK government, the taskforce will
deliver recommendations within 180 days. It will be chaired by officials from
both finance ministries, with input from regulators and industry experts to
ensure that its findings reflect the needs of businesses.
Even after leaving the European Union, the UK remains
a global financial powerhouse. TheCityUK, a lobbying group, notes that finance
and professional services contribute more than 12% of the country’s GDP. For many in the City of London, closer ties with Wall
Street offer a way to counterbalance the reduced access to European markets.
Crypto at the Forefront
The UK has emerged as a major hub for digital assets,
often ranked as the second-largest market for exchanges such as Coinbase, after
the US. This status has drawn significant investment from global crypto firms
and increased engagement with policymakers.
Across the Atlantic, the White House held its first
crypto summit earlier this year, underscoring Washington’s growing focus on
digital assets. President Trump has issued several executive orders aimed at
embedding crypto into the broader financial system.
The taskforce is expected to deliver its first
findings by early next year. Its recommendations could help shape how London
and Washington align financial regulation and digital asset policy in the years
ahead, potentially setting a benchmark for other global financial hubs.