US and UK Launch Joint Task Force on Crypto Regulation with Coinbase as Key Partner

The United States and the United Kingdom have unveiled the “Future Markets Task Force,” a joint initiative designed to strengthen cooperation on capital markets and digital asset regulation. The move reflects growing political will on both sides of the Atlantic to establish common ground in overseeing tokenized securities, stablecoins, and other emerging financial technologies.

The task force will be co-chaired by UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent, with regulators from both nations participating. According to officials, the group has been tasked with delivering recommendations within 180 days, focusing on coordination of policy for financial innovation. A UK Treasury spokesperson described the effort as “unlocking opportunities for investors, businesses, and market participants on both sides of the Atlantic.”

Coinbase was among the first major companies to endorse the initiative, highlighting the strategic importance of collaboration between the world’s two largest financial centers. In its statement, the exchange said, “Cooperation between these two leading financial centres is critical given the profound opportunity facing global capital markets, coming from tokenisation.” The company emphasized the need to prioritize tokenization of traditional financial assets, leadership in stablecoins, and mutual recognition of regulatory regimes. Coinbase argued that tokenization could democratize finance by enabling ordinary investors to trade, borrow, and invest in ways previously reserved for institutional players.

Differences in regulatory approach, however, could complicate progress. The United States has embraced stablecoin development, with the Trump administration enacting landmark legislation earlier this year. By contrast, the Bank of England has proposed caps that would limit stablecoin use in wholesale markets, a move Coinbase warns could hinder Britain’s ability to lead in the sector.

The announcement comes at a sensitive moment for London, as more companies move their listings to New York in search of stronger valuations and a friendlier regulatory climate. Former Chancellor George Osborne recently accused the UK government of leaving the country “in the slow lane” on crypto policy, warning that Britain risks being sidelined in a financial transformation comparable to Nigel Lawson’s Big Bang reforms of the 1980s. Osborne, who now sits on Coinbase’s global advisory council, has been a vocal critic of Labour’s cautious approach.

Meanwhile, the US has pursued a more aggressive stance, appointing crypto-friendly regulators, dismissing lawsuits against major industry players, and advancing legal frameworks for digital assets. Against this backdrop, the joint task force could represent not only a policy coordination effort but also a chance to restore confidence in London’s financial relevance.

The UK Cryptoasset Business Council welcomed the initiative, describing it as a clear vote of confidence from Washington. “Get this right and it has the potential to turbocharge the City of London and the transatlantic economy,” the group said. If the task force succeeds, it could serve as a model for how advanced economies adapt regulation to an increasingly digitized financial system, while also reviving London’s role as a global capital hub.