The UK and US governments have issued a joint position on stablecoins through the Transatlantic Regulatory Exchange, backing coordinated rules covering reserves, redemptions, market access and cross-border use. The statement says properly regulated stablecoins could improve payments, settlement and broader financial market infrastructure, while allowing private digital currencies to develop under public-sector oversight. Both governments said stablecoins used as money should be fully backed at a 1:1 ratio by high-quality liquid assets, with reserve assets kept separate from an issuer’s own funds. The position also calls for standards covering custody, redemptions and disclosure of legal rights for holders. In addition, the two sides said they will explore pathways for a stablecoin issued in one jurisdiction to enter the other’s market, and support fair, risk-based access to financial services and market entry for lawful, regulated stablecoin and digital asset providers.
The UK and US governments have published a joint position on stablecoins through the Transatlantic Regulatory Exchange, supporting coordinated rules on reserves, redemptions, market access and cross-border use.
According to the statement, stablecoins, if properly regulated, could improve payments, settlement and financial market infrastructure, while supporting the development of private digital currencies under public-sector oversight.
The two governments also said stablecoins used as money should be fully backed on at least a 1:1 basis by high-quality liquid assets. Reserve assets should be segregated from an issuer’s own funds, and holders should be given standards for custody, redemption and disclosure of legal rights.
The UK and US added that they will explore pathways for a stablecoin issued in one country to enter the other’s market. They also backed fair, risk-based access to financial services and market access for lawful and regulated stablecoin and digital asset providers.
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