US and UK set up crypto and capital markets taskforce

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Established by the UK Chancellor of the Exchequer and the US Treasury Secretary, the Transatlantic Taskforce for Markets of the Future will investigate collaboration on capital markets, digital assets and other “innovative financial activities”.

It has been told to report back to both finance ministries with recommendations for short-to-medium term collaboration on digital assets whilst legislation and regulatory regimes are still developing, as well as options for long-term collaboration and additional opportunities for wholesale digital markets innovation.

It will also explore ways to improve links between the countries’ capital markets, focusing on reducing burdens for UK and US firms raising capital cross-border.

Chaired by officials from HM Treasury and US Treasury and including representatives from UK and US regulators responsible for capital markets and digital assets regulation, the taskforce has been told to seek input from industry experts and report back within 180 days.