The governments of the United Kingdom and the United States have set up a new body to reduce barriers for companies trying to raise funds in both countries’ capital markets and to strengthen cooperation in the regulation of digital assets, including cryptocurrency.
The initiative, announced by Britain’s finance ministry on Monday, is called the Transatlantic Taskforce for Markets of the Future. The taskforce will prepare its first report in 180 days, focusing on short-term collaboration opportunities between the two nations and exploring long-term reforms, including the development of wholesale digital markets.
According to the UK government, the body will be jointly chaired by officials from the US Treasury Department and the British finance ministry, with support from key financial regulators on both sides. The approval was given by Britain’s finance minister, Rachel Reeves, and the United States Treasury Secretary, Scott Bessent, during President Donald Trump’s recent state visit to the United Kingdom.
The move is part of efforts to improve market access and ease regulatory hurdles that have often slowed down business activities. The British finance ministry explained that the taskforce would look at how both countries can promote innovation in financial services, particularly in the fast-growing digital economy, while ensuring that rules are strong enough to protect investors and the wider economy.
Britain has been struggling to maintain its dominance in financial services in Europe after the 2016 Brexit referendum. Several top firms have shifted their primary stock market listings from London to the United States, raising concerns about London’s competitiveness as a global financial hub. By strengthening ties with Washington, the UK hopes to attract more businesses back and rebuild its position as a leading financial centre.
One key area of focus is digital assets, where the United States and Britain want to show global leadership. Unlike the European Union, which has rolled out new legislation specifically for cryptocurrency and blockchain markets, the UK has chosen a different path by using its existing financial regulations to oversee the industry. Supporters of this approach say it gives Britain more flexibility and makes the country more competitive in attracting fintech companies and crypto investors.
The new Transatlantic Taskforce is expected to recommend ways to simplify processes for businesses seeking cross-border capital market listings. It will also examine opportunities for the two countries to align their policies on crypto assets, tokenised securities, and other emerging financial technologies. Officials noted that the goal is not just to cut red tape but also to ensure that both economies remain at the forefront of innovation and regulation in the digital era.
Financial analysts say the taskforce could play a major role in shaping the future of fintech, capital markets, and cross-border investments. It may also give US and UK businesses faster and cheaper access to funding opportunities while building investor confidence in digital financial products.
The announcement has drawn attention from global investors, policymakers, and financial market participants who see it as a sign that the US and UK want to set global standards for digital markets. With rapid growth in cryptocurrency adoption, tokenisation, and digital payments worldwide, many industry players believe the taskforce’s work could influence policies far beyond the Atlantic.
As the two nations prepare for the first report in six months, observers say the taskforce may also help reduce uncertainty for businesses navigating complex financial rules, while strengthening the long-term economic relationship between the United States and the United Kingdom.
