The UK and the US have established a special working group to explore cooperation on digital asset regulation

ChainCatcher news, according to the Financial Times, to promote the development of the UK financial services industry, the UK and the US have established a "Future Markets Special Working Group" to explore cooperation in capital markets and digital asset regulation.

UK Chancellor of the Exchequer Rachel Reeves and US Treasury Secretary Scott Bessent agreed to form this official group after holding talks. The discussions took place before US President Trump’s state visit to the UK. When the establishment of the special working group was announced on Monday, no details were provided regarding the specific areas of focus within capital markets and digital assets, nor the potential forms of cooperation. The UK Treasury stated that the "Transatlantic Future Markets Special Working Group" will study short- and medium-term cooperation on digital assets while the legislative and regulatory framework is gradually improved.

The UK Treasury also indicated that the group will focus on "reducing the burden of cross-border financing for UK and US companies." The special working group will be co-chaired by officials from the UK and US Treasuries and will submit a recommendation report within 180 days. Members will include regulatory agencies from both sides of the Atlantic responsible for capital markets and digital asset regulation.