Following last week’s meeting between US Treasury Secretary Scott Bessent and the UK’s Chancellor of the Exchequer Rachel Reeves, the two Treasury departments announced a “Transatlantic Taskforce for Markets of the Future”, which will include private sector input.
With both countries still developing their digital asset frameworks – the US working on crypto market infrastructure legislation and the UK finalizing stablecoin and market infrastructure laws – the two nations will explore collaboration during this evolving phase. Additionally, they will explore longer term options as well as opportunities for wholesale digital market innovation.
This collaboration extends beyond digital assets to encompass broader capital market integration, investigating links between their capital markets with the aim of reducing the regulatory burdens. The goal in this case is to enhance the growth and competitiveness of the capital markets of both countries. Notably, the UK has been suffering an exodus of listed firms to the US. The latest blow is news that one of its largest unicorns, Revolut, is considering a Nasdaq listing rather than the London Stock Exchange. The most liquid markets are naturally the most attractive.
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