The U.S. and the UK plan to work closer together on cryptocurrency oversight, according to reporting from the Financial Times.
UK Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent discussed the collaboration during a meeting on Tuesday. Representatives from the Bank of America, Barclays, Circle, Citi, Coinbase, and Ripple also attended, FT reported. Circle, Coinbase, and Ripple did not immediately respond to a request for comment.
Last week, industry groups pressed the British government to include stablecoins and tokenization in the U.S.-UK Tech Bridge — a bilateral initiative designed to strengthen collaboration on advanced technologies, including areas such as artificial intelligence, cybersecurity, space, quantum, and biotechnology, alongside digital finance.
The groups warned that excluding digital assets from the U.S.-UK Tech Bridge risks leaving Britain behind, while other regions move forward in shaping the future of finance.
The U.S. Securities and Exchange Commission’s Hester Peirce previously proposed a “cross-border sandbox” where the U.S. and the UK would allow crypto firms to perform certain activities under regulators’ oversight for two years.
The meeting among Reeves, Bessent, crypto firms, and banks comes as President Donald Trump is set to arrive in the UK on Tuesday evening, according to news reports.
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