U.S., UK taskforce sets digital asset roadmap to support stablecoin innovation

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US, UK digital asset roadmap

Highlights

The U.S. Treasury and HM Treasury taskforce urges coordinated regulation on stablecoins and tokenized assets, focusing on standards for custody, reserves, and consumer protection.
The group calls for the Bank of England, UK FCA, U.S. CFTC, and U.S. SEC to coordinate on tokenized asset treatment and facilitate cross-border capital raising.
The U.S. GENIUS Act mandates full dollar-backed stablecoins, audits for issuers above $50 billion market cap, and rule proposals are due by July 18 as agencies seek aligned oversight.

Joint roadmap for stablecoins and tokenized assets

According to The Block, the U.S. Department of the Treasury and HM Treasury said in a joint statement on Tuesday that the Transatlantic Taskforce for the Markets of the Future is recommending closer regulatory coordination on digital assets, with a focus on stablecoins, tokenized deposits and other similar assets.

The group, created last year to deepen cooperation between the two countries, says regulated stablecoins have the potential to make financial systems more efficient and competitive. The two governments also say the U.S. and UK should use their positions as leading financial centers to help shape digital asset markets and next-generation financial infrastructure.

The task force calls on the Bank of England, the UK Financial Conduct Authority, the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission to develop approaches for the treatment of tokenized assets. It also directs the FCA and the SEC to explore options that facilitate cross-border capital raising.

The recommendations support competition and innovation while stressing standards for custody, reserve segregation and consumer protection. The statement adds that each government is seeking frameworks that would give stablecoin holders a clear protected legal claim on reserves, including priority ahead of other creditors, subject to each jurisdiction's laws.

Regulatory timing and market implications

The joint roadmap comes as the GENIUS Act in the U.S. reaches its first anniversary this week. The law requires stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandates annual audits for issuers with a market capitalization above $50 billion and sets guidelines for foreign issuance.

Federal agencies are currently working on rule proposals to implement the law's provisions. During a House Financial Services Committee hearing on Tuesday, Federal Reserve Chair Kevin Warsh says the central bank is racing to meet a July 18 deadline for publishing its rules.

For digital asset firms, the U.S.-UK effort signals a push toward more aligned oversight in two of the sector's most important financial jurisdictions. That could shape how issuers, exchanges and institutional investors approach stablecoin products and tokenized assets across cross-border markets.

In our earlier coverage of the House Financial Services Committee hearing on Federal Reserve policy and oversight, we detailed how lawmakers pressed Fed Chair Kevin Warsh on inflation control, the central bank’s balance sheet strategy, and what they see as an expanding regulatory remit. The discussion underscored demands for clearer limits on the Fed’s role and more transparency around future policy shifts—context that matters as U.S. agencies now work to implement stablecoin rules and other digital-asset frameworks.

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