US, UK Set Up Taskforce To Align Crypto, Tokenized Securities Rules

The U.K. and U.S. are teaming up to strengthen cross-border collaboration on digital assets and capital markets, a move that could ease the way for crypto firms looking to operate on both sides of the Atlantic.

The announcement comes after U.K. Chancellor Rachel Reeves hosted U.S. Treasury Secretary Scott Bessent at Downing Street last week for a joint industry roundtable, where officials outlined plans for a 'Transatlantic Taskforce for Markets of the Future.' 

The group will deliver recommendations within 180 days on how to coordinate policy for emerging financial technologies, including digital assets, stablecoins, and tokenized securities.“This is about unlocking opportunities for investors, businesses, and market participants on both sides of the Atlantic,” a Treasury official said.

Coinbase (COIN) expressed support for the U.S.-U.K. partnership, saying it should focus on tokenizing traditional financial assets to enable the launch and distribution of stocks across both markets. The exchange also called for a transatlantic stablecoin corridor allowing pound-backed and dollar-backed stablecoins to be used in wholesale markets and payments. 

Coinbase's stock fell nearly 3.5% in midday trade on Monday, mirroring the selloff in the crypto market. Bitcoin's (BTC) price was trading at around $112,700, having fallen 2.4% in the last 24 hours. However, retail sentiment around the apex cryptocurrency moved to 'bullish' from 'neutral' territory. 

Meanwhile, U.S. equities were in the green on Monday. The SPDR S & P 500 ETF (SPY) was up 0.17%, the SPDR Dow Jones Industrial Average ETF (DIA) edged 0.02% higher, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) climbed 0.27%. 

Read also: Strive To Merge With Semler Scientific, Boosts Bitcoin Holdings To Nearly 11,000 BTC

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