CoinDesk
The US Department of the Treasury and HM Treasury released a 10-point transatlantic roadmap on Tuesday to coordinate oversight of tokenized assets, stablecoins and digital financial markets, marking the most concrete joint effort yet between the world's two largest financial centers to bring blockchain-based finance inside the mainstream regulatory perimeter. The recommendations from the Transatlantic Taskforce for Markets of the Future do not create new rules, but they commit the SEC, CFTC, FCA and Bank of England to work more closely on common approaches to tokenized securities, cross-border stablecoin activity, collateral eligibility and industry-led tokenization pilots.
On the digital asset side, governments propose an industry-led working group to test cross-border tokenization projects, coordinate the regulation of tokenized securities, and support the development of cross-border stablecoins. They also want to review global banking standards for cryptoassets and build policy frameworks that allow stablecoins, tokenized bank deposits and other forms of digital money to coexist. A joint statement explicitly backs cross-border stablecoin activity and says the private sector will play a central role in building digital money and payment rails.
Why it matters
The roadmap is the first time Washington and London have committed to the same agenda on tokenization rather than working in parallel. Bessent framed the recommendations as reflecting the strength of the two markets and a shared commitment to innovation and competition. For issuers and venues, the practical shift is regulatory: common supervisory approaches between the SEC, CFTC, FCA and Bank of England lower the cost of running a tokenized product across both jurisdictions, and joint work on whether stablecoins or tokenized money market funds can serve as collateral opens a direct path to deeper on-chain liquidity.
Market impact
The recommendations also widen the aperture beyond crypto. The SEC and FCA will explore easier cross-border capital raising, and regulators will review derivatives supervision, market data transparency and international accounting standards.
Frequently asked questions
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What did the US and UK actually announce on tokenized finance?
The US Department of the Treasury and HM Treasury released a 10-point transatlantic roadmap from the Transatlantic Taskforce for Markets of the Future, committing the SEC, CFTC, FCA and Bank of England to coordinate on tokenized securities, stablecoins and digital financial markets.
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Does the roadmap create new rules for tokenized assets?
No. The recommendations do not introduce new rules. They identify areas where US and UK regulators plan to work more closely together, including common approaches to settling tokenized securities and the use of stablecoins or tokenized money market funds as collateral.
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Which regulators are covered by the US-UK tokenization roadmap?
The roadmap covers the US Securities and Exchange Commission, the Commodity Futures Trading Commission, the UK's Financial Conduct Authority and the Bank of England, alongside the US Department of the Treasury and HM Treasury.
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What does the joint statement say about stablecoins?
The joint statement explicitly backs cross-border stablecoin activity, says the private sector will play a central role in developing digital money and payment systems, and points to a policy framework where stablecoins, tokenized bank deposits and other digital money forms can coexist.
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Why does the roadmap matter beyond crypto markets?
It widens the aperture to traditional finance, with the SEC and FCA exploring easier cross-border capital raising, and regulators reviewing derivatives supervision, market data transparency and international accounting standards, giving tokenized-finance operators a clearer path into mainstream capital markets.
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