The U.S. and the UK governments have set up a taskforce to enhance collaboration on capital markets, digital assets, and other innovative financial activities. The Transatlantic Taskforce for Markets of the Future aims to explore short-to-medium term cooperation on digital assets, whilst legislation and regulatory regimes are still developing, as well as long-term collaboration for wholesale digital markets innovation. It also intends to explore improvement of links between the two countries' capital markets, with a focus on reducing burden for firms from the two countries raising capital cross-border. The taskforce is expected to report within 180 days with recommendations to enhance the afore-mentioned collaboration. The announcement comes in the wake of U.S. Treasury Secretary, Scott Bessent, visiting Downing Street and the Chancellor of the Exchequer, Rachel Reeves, last week for a joint industry roundtable.
