TLDR
- The US Treasury and the UK Treasury released a 10-point roadmap to harmonize regulation of digital assets
- Both governments want to reduce regulatory friction for token securities and stablecoins moving between their markets
- A private sector-led group will be established to test cross-border coding projects
- The joint statement said stablecoins should be “at least fully backed by liquid, high-quality assets.”
- The UK could add up to $44 billion to its annual economic output by 2035 if it becomes a leading tokenization jurisdiction.
The US and UK released a joint roadmap aimed at harmonizing their rules on token assets and stablecoins. The plan, published on Tuesday by the US Treasury and the UK Treasury, came from the Transatlantic Task Force on Future Markets.
The UK and US are seeking regulatory convergence for stablecoins and cross-border market access
The UK and US governments have issued a joint statement supporting closer coordination on the regulation of stablecoins and their use in cross-border payments, settlements and capital markets. Stablecoins have held up… pic.twitter.com/Y5c77Jqs60
— Wu Blockchain (@WuBlockchain) July 14, 2026
The 10-point roadmap covers digital assets and traditional capital markets. It does not introduce new laws. Instead, it identifies areas where regulators in both countries plan to work more closely together.
Cross-border coding takes center stage
One of the key proposals is to establish an industry-led working group to test cross-border use cases for tokenized assets. Regulators, including the US Securities and Exchange Commission, the Commodity Futures Trading Commission, the UK Financial Conduct Authority and the Bank of England, have been named as participants.
The two governments also want to find common ways to settle token securities. They will explore whether stablecoins or not symbolic Money market funds can be used as collateral in the financial markets.
The roadmap also calls for a review of global banking standards for crypto assets. The goal is to build policy frameworks that allow stablecoins, tokenized bank deposits, and other forms of digital money to coexist.
Stablecoin rules are moving towards consensus
The two governments issued a joint statement of support across the border Stable coin development. Stablecoins “should be fully backed, at least on an individual basis, by high-quality liquid assets,” they said.
This language is consistent with the US Stablecoins National Innovation Guidance and Establishment Act, which was signed into law in 2025. This law awaits regulatory approval before it goes into effect in January 2027.
Each government intends to “tailor its requirements to obtain similar outcomes for similar risks,” while avoiding market distortions or discouraging cross-border competition, the statement said.
A separate report by the UK government-backed industry task force said the UK could add up to $44 billion to its annual economic output by 2035. This figure depends on the UK becoming one of the leading coding and certification jurisdictions to keep pace with its major peers.
The report called for the UK to issue token bonds by the first quarter of 2027 and begin testing financial transactions on the blockchain.
Regarding traditional finance, the roadmap calls for the Securities and Exchange Commission and the Financial Conduct Authority to facilitate cross-border capital raising. Regulators will also review supervision of financial derivatives markets, transparency of market data, and international accounting standards.
Treasurer Scott Besent said the recommendations reflect the shared commitment of both countries to supporting economic growth, innovation and competition.
