A Transatlantic Push for Financial Innovation
The United States and the United Kingdom have officially launched the Future Markets Task Force, a new group designed to align policies on capital markets and crypto regulation. The initiative, announced in London before President Donald Trump’s state visit, reflects growing pressure to ease cross-border operations for crypto firms.
UK Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent will co-chair the task force, which will also include major regulatory bodies on both sides of the Atlantic. Their mission: deliver recommendations within 180 days on how to coordinate policy for digital assets, stablecoins, and tokenized securities.
The UK and US are deeply linked with £1.2 trillion invested between us.
— Rachel Reeves (@RachelReevesMP) September 22, 2025
Today @SecScottBessent and I have established the Transatlantic Taskforce for Markets of the Future, enhancing collaboration on key topics such as capital markets and digital assets.https://t.co/gdtZFzMJXx
The UK and US are deeply linked with £1.2 trillion invested between us.
— Rachel Reeves (@RachelReevesMP) September 22, 2025
Today @SecScottBessent and I have established the Transatlantic Taskforce for Markets of the Future, enhancing collaboration on key topics such as capital markets and digital assets.https://t.co/gdtZFzMJXx
Coinbase Pushes Tokenization as the Key
Crypto exchange Coinbase quickly voiced its support, describing the cooperation between the U.S. and UK as essential for the future of finance.
Coinbase urged policymakers to focus on three areas: tokenizing traditional assets, stablecoin leadership, and mutual recognition of regulatory regimes. The company argued that tokenization could open investment opportunities to everyday people, letting them trade, borrow, and invest in ways previously reserved for large institutions.
Stablecoin Clash Between Washington and London
While the U.S. has leaned heavily into stablecoins, passing landmark legislation under the GENIUS Act, the Bank of England has taken a more cautious stance. The central bank is even exploring ownership caps that critics say could block stablecoins from wholesale markets.
The clash underscores a deeper divide: Washington is rapidly advancing crypto policy under Trump’s pro-industry agenda, while London risks being left behind.
London Loses Listings to New York
The joint task force arrives at a fragile time for Britain’s financial markets. Many companies have chosen to move listings from London to New York, chasing higher valuations and deeper liquidity.
Osborne, who sits on Coinbase’s global advisory council, accused Reeves and Bank of England Governor Andrew Bailey of leaving the UK in the “slow lane.”
A Vote of Confidence in the City of London
Despite criticism, the joint task force is being hailed as a positive step.
If the task force delivers on its mandate, the move could help restore London’s reputation as a global financial hub while ensuring that crypto regulation keeps pace with rapid innovation.
