On September 22, the U.S. Treasury and the UK’s HM Treasury announced the formation of a Transatlantic Taskforce for Markets of the Future, following a joint industry roundtable attended by Treasury Secretary Scott Bessent and Chancellor of the Exchequer Rachel Reeves. The Taskforce, through the UK-U.S. Financial Regulatory Working Group, will explore options for “short-to-medium term collaboration on digital assets while legislation and regulatory regimes are still developing,” as well as long-term opportunities for innovation in wholesale digital markets. It will also consider ways to strengthen ties between their capital markets to “enhance the growth and competitiveness of both UK and U.S. markets,” with a focus on reducing burdens for raising capital across borders. Chaired by officials from both countries’ finance ministries and including representatives from relevant regulatory agencies, the Taskforce will seek input from industry experts and is expected to report its recommendations within 180 days.
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