US and UK Align Rules for Tokenised Finance Across Both Markets

US and UK release joint tokenised finance roadmap

The US Treasury and Britain's HM Treasury released a 10-point roadmap on 14 July 2026 to coordinate oversight of tokenised assets, stablecoins, and digital financial markets. The recommendations aim to reduce regulatory friction that risks slowing the growth of tokenised securities and other digital assets operating across both countries. Officials framed the move as an effort to align two of the world's largest financial markets. The two Treasuries published the recommendations jointly to signal a coordinated transatlantic approach.

Ten recommendations target tokenised securities and stablecoins

The recommendations come from the Transatlantic Taskforce for Markets of the Future, a joint UK-US body. The report sets out 10 recommendations covering digital assets and traditional capital markets. On the digital asset side, the roadmap proposes an industry-led working group to test cross-border tokenisation projects. It also directs authorities to identify common regulatory approaches for tokenised securities, including settlement finality of tokenised securities transactions. A separate recommendation announces a joint UK-US statement on stablecoins. The taskforce also weighed how to support cross-border stablecoin activity between the two markets.

Regulators will study shared settlement and collateral approaches

The roadmap identifies areas where regulators plan to work more closely together. The US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the UK Financial Conduct Authority (FCA), and the Bank of England will explore common approaches to settling tokenised securities. They will also examine whether stablecoins or tokenised money market funds can serve as collateral in financial markets. The plan supports digital money systems where stablecoins, tokenised deposits, and other forms of digital money can coexist.

US Treasury Secretary Scott Bessent said the recommendations "reflect the strength of the U.S. and U.K. financial markets and their shared commitment to supporting economic growth, innovation and competition."

The taskforce launched during a September 2025 state visit

Chancellor of the Exchequer Rachel Reeves and Bessent announced the taskforce in September 2025, during a US state visit to the UK. The group focuses on reducing regulatory fragmentation that risks pushing financial innovation into less-supervised markets. The initiative responded to concern that fragmented rules were driving digital asset firms offshore. Both governments have said they want to complete their own digital asset frameworks in parallel. The July roadmap is the taskforce's most detailed output so far.

USDC market cap holds near record levels

Demand for regulated stablecoins remains high as the policy work advances. USDC traded at $1.00 with a market cap near $73.0 billion and 24-hour trading volume of about $14.4 billion (CoinPaprika, 15 July 2026). That scale underlines the size of the dollar-backed token market the roadmap addresses. USDC ranks among the largest dollar-pegged stablecoins by market value.

The roadmap coordinates oversight without new rules

The recommendations do not introduce new regulation. Instead, they set a coordination framework while both countries complete their own rulemaking. The plan also covers traditional finance, including cross-border capital raising, a review of derivatives market supervision, and longer-term compliance arrangements for UK swap execution facilities. It further calls for improved market data transparency across both jurisdictions.

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