US and UK Create Joint Task Force for Crypto Regulation Alignment

TLDR

• US Treasury and UK Treasury formed joint Transatlantic Taskforce for Markets of the Future on September 22, 2025
• Task force will deliver crypto regulation recommendations within 180 days through existing UK-US Financial Regulatory Working Group
• Focus areas include digital asset oversight, wholesale digital markets innovation, and cross-border collaboration
• UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent announced the partnership during meetings that included crypto company representatives
• Coinbase participated in discussions and expressed support for the US-UK regulatory cooperation initiative

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The United States and United Kingdom announced the formation of a joint task force on September 22, 2025, to explore cooperation on cryptocurrency regulation and digital asset oversight. The Transatlantic Taskforce for Markets of the Future brings together officials from both countries’ treasury departments and market regulators.

UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent made the announcement following meetings between the two governments. The task force operates through the existing UK-US Financial Regulatory Working Group, which has been working on financial cooperation between the countries.

The new initiative will focus on developing approaches to digital asset oversight and exploring opportunities in wholesale digital markets. Officials plan to examine both short-term measures for cross-border crypto use cases and long-term strategies for digital market infrastructure.

The task force has been given 180 days to deliver its recommendations. These recommendations will be developed in close consultation with private industry representatives to ensure they address real market needs.

Industry Participation and Support

Cryptocurrency exchange Coinbase participated in the discussions between treasury officials from both countries. Daniel Seifert, Coinbase’s vice president and regional managing director for Europe, the Middle East and Africa, attended the meetings between Reeves and Bessent.

Coinbase published a blog post expressing support for the partnership. The company described itself as “proud” to support the US-UK regulatory cooperation effort.

Other cryptocurrency companies also had representatives present during the treasury discussions. The task force stated it would seek input from leading industry experts to ensure recommendations reflect industry priorities.

Regulatory Approaches and Timing

Both countries have taken different approaches to cryptocurrency regulation in recent months. The UK Treasury under Reeves has focused on supporting innovation while addressing fraud concerns in the crypto sector.

The US approach under Treasury Secretary Bessent has emphasized reducing regulatory barriers. Bessent previously stated the Treasury Department would explore ways to acquire Bitcoin as part of US government crypto reserve plans.

Cross-Border Cooperation Goals

The task force aims to align regulatory approaches between the two major financial centers. Chancellor Reeves described London and New York as the “twin pillars of global finance” and emphasized the need for closer alignment as technology changes markets.

Mark Aruliah from blockchain analytics firm Elliptic described the collaboration as validation of the digital assets industry. He suggested the task force could establish a global benchmark if other countries follow similar approaches.

The announcement follows a broader memorandum of understanding signed between UK Prime Minister Keir Starmer and US President Donald Trump. That agreement explores cooperation on various technologies including artificial intelligence, though it carries no legal binding requirements.

Both treasury departments will work together to develop practical solutions for digital asset regulation that could influence global standards for cryptocurrency oversight and cross-border financial cooperation.

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