TL;DR
- The U.S. and the U.K. published 10 recommendations to align regulation of stablecoins, tokenized assets, and capital markets.
- The taskforce, created during Trump’s state visit to the U.K. in 2025, sets no binding rules but establishes a shared direction for both countries.
- Coinbase described the recommendations as a “critical moment for transatlantic cooperation” on digital finance.
The U.S. and U.K. Treasuries published a set of joint recommendations to align the regulation of stablecoins, tokenized assets, and digital money. It is a coordinated move aimed at facilitating the flow of blockchain-based finance across the Atlantic.
The document, published by HM Treasury and the U.S. Department of the Treasury, contains 10 recommendations drawn from the Transatlantic Taskforce for Markets of the Future, a body created by Chancellor Rachel Reeves and Treasury Secretary Scott Bessent during President Trump’s state visit to the U.K. in September 2025.
Of the 10 recommendations, five focus specifically on digital assets and the remaining ones address traditional capital markets. None are binding, so each country will need to complete its own regulatory processes under a shared direction.
NEW: UK and US team up on digital assets, capital markets and issue joint statement on stablecoins. Details: https://t.co/RuzFKIxh6e
— British Embassy Washington (@UKinUSA) July 15, 2026
Stablecoins and Tokenization: The Core of the Debate
The taskforce urges regulators, including the Bank of England, the FCA, the SEC, and the CFTC, to develop common approaches for tokenized assets. This includes the settlement finality of tokenized securities and the possibility for stablecoins and tokenized money market funds to function as collateral in clearing houses.
The document also proposes the creation of a group led by the private sector to test cross-border tokenization use cases over one year, and backs a “multiple digital money” ecosystem where stablecoins, tokenized bank deposits, and other forms of digital money coexist.
Both governments are also working on a joint statement supporting a dynamic stablecoin market and establishing that they must be backed at a minimum one-to-one ratio by high-quality liquid assets — principles that mirror those of the GENIUS Act, the federal stablecoin law signed last year.
Mutual Recognition
The alignment project comes as both nations build their own regulatory frameworks. The U.S. will implement the GENIUS Act with an effective date of 2027, and the U.K. crypto-asset regime will enter into force in October of the same year. Both are attempting to catch up with the European Union, whose MiCA rules have been fully in force since late 2024. The recommendations, however, stop short of mutual recognition: a stablecoin authorized in one country will still need to comply with the other’s regulations to operate there.
Katie Harries, head of policy for Europe at Coinbase, welcomed the initiative and highlighted the opportunity for both financial centers to “reimagine global capital markets through tokenization“.
