The United States and United Kingdom outlined a plan Tuesday to align parts of their digital asset and capital market rules, backing cross-border stablecoin use, one-to-one reserve standards and stronger protections for holders if an issuer fails.
The U.S. Department of the Treasury and HM Treasury released 10 recommendations Tuesday from the Transatlantic Taskforce for Markets of the Future. Alongside them, the governments published a separate 10-point joint stablecoin statement.
The documents set shared policy goals and identify regulatory work for agencies in both countries. They do not themselves create new rules or guarantee that a stablecoin approved in one country can enter the other market.
Stablecoins move to the center
The joint statement says stablecoins marketed as money should be backed at least one-to-one by high-quality, liquid assets. It also calls for reserve assets to remain segregated from an issuer’s own funds, timely redemption of obligations and clear disclosures about holders’ legal rights.
In the event of insolvency, bankruptcy, restructuring or resolution, the governments said their frameworks should give stablecoin holders a clear and protected claim on reserves, including priority ahead of other creditors, subject to each country’s laws.
The United States and UK also intend to explore a pathway for stablecoins issued under one jurisdiction’s rules to enter the other market. Both governments supported fair, risk-based access to banking and financial markets for lawful, regulated digital asset providers and the use of stablecoins in payments, settlement and tokenized securities or commodities markets, subject to safeguards.
“The Transatlantic Taskforce for Markets of the Future reflects the strength and depth of U.S. and UK markets and our shared commitment to fostering economic growth and advancing global standards that reward innovation and competition,” U.S. Treasury Secretary Scott Bessent said.
Regulators target tokenized assets and capital raising
The task force recommended a one-year, private-sector-led group to test cross-border uses for tokenized assets and share best practices. It also asked U.S. and UK regulators to seek common approaches on issues such as when tokenized securities transactions become final and whether stablecoins or tokenized money market funds may serve as margin collateral at central counterparties.
On capital markets, the Securities and Exchange Commission and the UK Financial Conduct Authority plan to examine ways to reduce barriers to cross-border fundraising. The agencies will also consider cooperation involving foreign private issuers, market transparency systems and supervisory arrangements for UK swap execution facilities.
Bessent and UK Chancellor of the Exchequer Rachel Reeves established the task force in September 2025 during President Donald Trump’s state visit to the United Kingdom. The U.S. Treasury and HM Treasury co-chair the group, which includes financial regulators from both countries.
As previously reported by The Dallas Express, Trump signed the GENIUS Act in July 2025, creating a federal regulatory framework for payment stablecoins in the United States.
Provided by Dallas Express
