The UK and the US will establish a transatlantic working group to simplify capital market access and strengthen cooperation on cryptocurrencies

The UK Treasury announced on Monday that the UK and US governments will establish a "Transatlantic Future Markets Working Group," aimed at reducing the cumbersome procedures for businesses to enter the capital markets of both countries and improving cooperation in the field of crypto assets.

The working group will submit a report within 180 days, exploring short-term cooperation improvements and long-term options, particularly in the wholesale digital markets sector. This initiative has been approved by UK Chancellor of the Exchequer Rachel Reeves and US Treasury Secretary Scott Bansen, and will be co-chaired by officials from both treasuries, with participation from regulatory bodies in both countries.