The US and UK are establishing a new task force to deepen cooperation on capital markets and cryptocurrency. The initiative, announced as part of President Donald Trump's state visit to the UK last week, aims to strengthen financial ties between the two countries. The “Transatlantic Task Force for Future Markets” aims to alleviate the burden on British and American companies raising capital across borders. The UK government announced that the task force will also explore short- and medium-term collaboration options in the digital asset space, in line with evolving regulatory frameworks, and will work on a more comprehensive partnership model in the long term. The task force will be led by officials from the finance ministries of both countries and will draw on input from industry experts, along with representatives of relevant regulatory bodies. The team, expected to report within 180 days, aims to develop recommendations that “directly reflect the priorities of the industry.” Despite partially losing its position within the European Union after Brexit, London remains a global center for finance and professional services. The UK's economic contribution in these sectors accounts for more than 12% of the country's total output. London financial circles believe that closer ties with Wall Street would be a strategic step for the UK. Related News: BREAKING: Hacking Claims Surround a Major Exchange-Listed Altcoin - Experienced a Significant Drop The UK is also a major hub for the cryptocurrency market. As the second-largest market after the US for major exchanges like Coinbase, the country is attracting significant interest from crypto companies. Ahead of Trump's visit, UK Chancellor of the Exchequer Rachel Reeves held a private meeting with crypto industry representatives. Industry associations also forwarded a letter to Trade and Industry Secretary Peter Kyle highlighting the importance of blockchain technology. On the US side, the White House hosted a cryptocurrency summit for the first time this year. President Trump signed a series of executive orders to make digital assets an integral part of the American financial system. Trump and his family also have financial interests in various crypto ventures, either through direct ownership or influential roles. *This is not investment advice. Continue Reading: The US and UK Reach an Agreement on Cryptocurrencies – Here Are the Details
