US and UK Seek Alignment on Stablecoin and Tokenization Rules

The U.S. and UK Treasuries published ten recommendations to align their regulation of stablecoins, tokenized assets, and capital markets. The recommendations stem from the Transatlantic Taskforce for Markets of the Future, established during a 2025 state visit.

Five of the recommendations focus on digital assets, aiming for common approaches to tokenized securities and stablecoin collateral requirements at clearing houses. The taskforce also proposed a private-sector group to test cross-border tokenization for one year and envisions a “multi-money ecosystem” where stablecoins and tokenized bank deposits coexist.

While the recommendations aren’t binding, they signal a shared direction as both countries implement their own regulatory frameworks, the U.S. with the GENIUS Act and the UK with its upcoming cryptoasset regime, and attempt to keep pace with the EU’s MiCA rules. Coinbase praised the plan as a step toward transatlantic cooperation. The effort seeks to reduce friction between the two financial centers, though mutual recognition of licenses remains a future consideration.