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US, UK Treasuries Seek Common Framework for Tokenisation and Stablecoins

US, UK Treasuries Seek Common Framework for Tokenisation and Stablecoins

Joint task force outlines recommendations for cross-border digital asset cooperation.

Written by Rahul Dhingra, Edited by David Delima | Updated: 15 July 2026 18:09 IST

US, UK Treasuries Seek Common Framework for Tokenisation and Stablecoins

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Proposal calls for industry testing of tokenised asset use cases

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Highlights

Task force proposes industry-led tokenisation testing framework
US and UK seek aligned approach to stablecoin regulation
Recommendations support cross-border digital finance cooperation

The US Department of the Treasury, along with HM Treasury, developed recommendations that were part of Transatlantic Task Force for the Markets of the Future, including activities of stablecoins and tokenised finance. On Tuesday, in a joint announcement, both of these treasuries made four recommendations with emphasis on digital currencies within the bilateral cooperation between the two countries regarding crypto finance markets. The task force suggested that the authorities consider the creation of an industry-led body in relation to “testing of cross-border use cases for tokenised assets,” and that the financial authorities of the US and the Bank of England come up with common strategies regarding tokenised assets.

Joint Task Force Recommends Cross-Border Collaboration on Digital Assets

The US Treasury's statement did not make any direct reference to the GENIUS Act, which was passed into law last year and needs regulations to take effect in January 2027. On the other hand, the US-UK recommendations stated that "stablecoins should be fully backed, on at least a one-to-one basis, by high-quality, liquid assets," which is in agreement with the US law.

Crypto Regulations Discussion

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On stablecoins, the US and the UK released a joint statement aimed at regulatory alignment and establishing a “dynamic stablecoin market across borders.” “Each government intends to tailor its requirements to seek comparable outcomes for comparable risks and activities, seeking to advance financial stability while avoiding market distortions or disincentivising cross-border competition,” said the statement.

The US-UK statement followed a report that the UK could generate up to 33 billion British pounds, or $44 billion (roughly Rs. 4,20,948 crore), in annual output by 2035 by pioneering tokenised financial markets, according to an estimate by the government-backed Industry Taskforce on Fintech. The estimate is in the first report published by Wholesale Digital Markets Champion Chris Woolard. Furthermore, the initiative requires the issuance of the first tokenised government bond by the UK before the first quarter of 2027.

This is not the first time that we have seen authorities from the US and UK pull out of a joint effort. In 2025, authorities from both countries had decided to exchange human resources in order to collaborate on the drafting of crypto regulations. This initiative will see the New York Department of Financial Services (DFS) and the Bank of England (BOE) together. The two entities have agreed to exchange senior staff officials with a proficiency in managing sectors like digital assets and emerging payments.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto Regulations, Crypto Laws, stablecoins, Tokenisation

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More

US, UK Treasuries Seek Common Framework for Tokenisation and Stablecoins

Joint Task Force Recommends Cross-Border Collaboration on Digital Assets

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