The U.S. and UK enhance collaboration on digital assets with a roadmap for stablecoins and tokenization

The United States and the United Kingdom have published a joint roadmap aimed at expanding cooperation on digital assets, calling for closer regulatory coordination on stablecoins, tokenized financial assets and cross-border capital markets as both countries continue implementing broader crypto regulatory frameworks.

The recommendations, released Tuesday by the U.S. Department of the Treasury and HM Treasury under the Transatlantic Taskforce for the Markets of the Future, seek to strengthen financial ties between the world's two largest international financial centers while reducing barriers to cross-border investment and digital asset activity.

Treasury Secretary Scott Bessent said the taskforce reflects the two countries' shared commitment to promoting growth, competition and internationally recognized market standards. Established in September 2025 by Bessent and UK Chancellor Rachel Reeves, the initiative was tasked with identifying practical measures to support capital markets and digital finance through consultations with industry participants.

Alongside the recommendations, the two governments issued a joint statement supporting regulated cross-border stablecoin activity, describing private-sector innovation as an important component of future payment infrastructure.

Stablecoins and Tokeniezed assets

The statement said regulated stablecoins, tokenized deposits and related payment instruments have the potential to improve efficiency, competition and innovation provided they operate within clear legal and prudential frameworks.

Both governments said they intend to establish legal protections that give stablecoin holders a defined claim on reserve assets during insolvency, restructuring or bankruptcy proceedings, consistent with each jurisdiction's legal framework. The recommendations also call for robust custody standards, reserve segregation requirements and consumer protections.

The taskforce urged the Bank of England, the UK's Financial Conduct Authority, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission to continue developing regulatory approaches for tokenized financial assets. It also recommended that the FCA and SEC examine mechanisms to facilitate cross-border capital raising.

The publication comes as U.S. agencies finalize rules implementing the GENIUS Act, the federal stablecoin law that requires qualifying issuers to fully back stablecoins with U.S. dollars or similarly liquid assets, establishes reserve and disclosure standards and introduces oversight for foreign issuers operating in the U.S. market.

Appearing before the House Financial Services Committee on Tuesday, Federal Reserve Chair Kevin Warsh said regulators were working to meet the July 18 deadline for portions of the rulemaking process.

"We're racing to put that out by this deadline," Warsh said.

Advancing regulatory oversight

The roadmap follows a series of digital asset policy developments across Europe announced this week.

On Monday, HM Revenue & Customs confirmed it will introduce a "no gain, no loss" Capital Gains Tax treatment for qualifying cryptoasset lending and liquidity pool transactions beginning April 6, 2027. The measure defers taxable gains until an investor makes an economic disposal of the underlying cryptoasset rather than when assets are temporarily committed to lending or automated market maker arrangements.

HMRC said the policy addresses concerns raised following its 2022 guidance and is expected to affect roughly 700,000 individuals. The changes amend provisions of the Taxation of Chargeable Gains Act 1992 for individuals and trustees while simplifying the tax treatment of decentralized finance transactions.

Separately, the European Central Bank selected 36 payment service providers for a year-long digital euro pilot scheduled to begin in the second half of 2027. The program will test a beta version of the digital euro across the ECB and the euro area's 19 national central banks, with participating banks and payment firms supporting online, offline and point-of-sale transactions.

The ECB has said the pilot forms part of its preparatory work for a possible retail central bank digital currency. Under its current roadmap, a decision on issuance will depend on the adoption of the EU's digital euro legislation, with the central bank targeting readiness for a potential launch in 2029.

Together, the U.S.-UK recommendations, the UK's tax reforms and the ECB's continued digital euro preparations mark another week of regulatory progress as Western authorities continue building legal and operational frameworks for digital assets, tokenized finance and digital payments.

---

JAN MATULA

Founder of Bitcion.Blog

Graduate of Bratislava University of Economics and Business, experienced Forex and Stocks trader since 2008, early Bitcoin investor and crypto trader since 2021.

---

This content is for informational purposes only and should not be taken as solicitation, recommendation, endorsement or  investment advice. It is crucial for you to conduct your own research and due diligence to make informed decisions, as any investment will be your sole responsibility. Please review our disclaimer and risk warning.