The United States and the United Kingdom have released a joint statement through the Transatlantic Future Markets Working Group, setting out a new roadmap for digital asset cooperation. According to The Block, the statement says regulated stablecoins could improve the efficiency and competitiveness of the financial system. It also calls on the Bank of England, the UK Financial Conduct Authority, the US Commodity Futures Trading Commission, and the US Securities and Exchange Commission to develop approaches for tokenized assets. In parallel, the FCA and SEC were instructed to explore options that could support cross-border capital raising. The statement backs competition and innovation in assets including stablecoins and tokenized deposits, while stressing standards around custody, reserve segregation, and consumer protection. It also says stablecoin holders should have clear priority legal claims in the event of insolvency. The statement comes as the US GENIUS Act marks its first anniversary, with Federal Reserve Chair Kevin Warsh saying at a House Financial Services Committee hearing that related rules are being prepared ahead of the July 18 deadline.
The United States and the United Kingdom have stepped up cooperation on digital assets, releasing a joint statement from the Transatlantic Future Markets Working Group. According to The Block, the statement says regulated stablecoins have the potential to improve the efficiency and competitiveness of the financial system.
The working group was set up last year to deepen coordination between the two countries and reduce market fragmentation. In the new statement, the group called on the Bank of England, the UK Financial Conduct Authority, the US Commodity Futures Trading Commission, and the US Securities and Exchange Commission to develop approaches for the treatment of tokenized assets. It also directed the FCA and SEC to “explore options to facilitate cross-border capital raising.”
Stablecoins and tokenized deposits highlighted
The statement also supports competition and innovation for assets including stablecoins and tokenized deposits. At the same time, it emphasizes standards covering custody, reserve segregation, and consumer protection. It adds that stablecoin holders should have clear priority legal claims in insolvency proceedings.
The statement was released as the US GENIUS Act marked one year since its passage. Federal Reserve Chair Kevin Warsh said at a House Financial Services Committee hearing that related rules were being finalized “ahead of the July 18 deadline.”
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