UK and US Launch Joint Taskforce for Crypto Regulation

The governments of the UK and US have agreed to establish a joint taskforce aimed at reducing barriers for banks and corporates raising capital and strengthening cooperation on cryptocurrency regulation.

The Transatlantic Taskforce for Markets of the Future will be backed by UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent. It will also be co-chaired by officials from both finance ministries and include participation from market regulators.

According to a Treasury statement, the taskforce will present recommendations within 180 days on immediate steps to streamline cross-border fundraising and longer-term options to modernize wholesale digital markets.

For banks, the initiative promises to address duplicative requirements that often complicate transatlantic deals. The taskforce will explore how firms can raise capital more efficiently, while also focusing on the regulatory treatment of crypto assets, tokenization, and other digital innovations that are reshaping wholesale finance.

“The taskforce will look at how we can reduce burdens on firms, improve market links, and ensure that both our capital markets remain world leaders,”  Reeves said.

Industry participants are expected to closely monitor whether the taskforce can deliver practical changes to secondary listings, settlement processes, and capital-raising structures. Greater clarity on crypto rules is also seen as critical for investment banks seeking to expand custody, trading, and advisory services in the sector.

The move underlines London and New York’s determination to preserve their dominance as global financial hubs by creating more seamless capital flows and a coordinated approach to digital market infrastructure.