The United States and the United Kingdom have announced the training of a “working group for the future markets”, aimed at improving cooperation in capital markets and cryptographic regulations.
The United Kingdom and the United States unite to meet the challenges of the cryptography market
THE agreement was reached during interviews in Downing Street between the British Chancellor Rachel Reeves and the US Treasury Secretary Scott Bessent, just before President Donald Trump’s state visit to Great Britain.
Although the announcement came with limited details concerning the fields of intervention of the working group, it highlights a mutual interest in promoting collaboration on the growing market for digital assets.
The backdrop of this initiative is particularly relevant, because the United Kingdom has been faced with prolonged slowdown in its capital markets. Many companies have chosen to move their London lists in New York, attracted by the promise of higher valuations and a more favorable regulatory environment.
Meanwhile, the United States has actively adopted the cryptocurrency industry as part of the current Trump administration, appointed friendly crypto regulators, rejecting prosecution against the main players and promoting historical legislation governing stablecoins.
On the other hand, the United Kingdom faced criticism from Crypto leaders for its slow regulatory response, which left it behind the United States and other competitive financial centers.
The British treasure said that the new working group will explore the options for short and medium term collaboration on digital assets while regulatory managers are still being developed. In addition, the group will aim to rationalize the process for companies in the United Kingdom and the United States seeking to raise capital through borders.
Collaboration for change
Chaired by officials of the Treasury Departments of the United Kingdom and the United States, the working group should include regulators responsible for the supervision of capital markets and cryptographic assets on both sides of the Atlantic. He is responsible for reporting within 180 days with recommendations on the best way to proceed.
Former Conservative Chancellor George Osborne expressed the challenges that the United Kingdom is confronted in cryptographic space, warning that the country risks becoming out of words in the midst of a financial revolution recalling the “Big Bang” era of the 1980s.
Osborne, who is currently sitting on the global Crypto Coinbase Coinbase Coinbase Based Council, criticized the current government approach, suggesting that it leaves the United Kingdom to train.
The UK Crypto Asset Business Council, a commercial organization, praised the announcement of the working group, considering it a solid approval from the United States of the British economy. They stressed that if they were executed properly, this initiative has the potential to invigorate the city of London and strengthen the transatlantic economy.
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