UK and US Form Task Force to Explore Financial Services Collaboration

According to PANews, the United Kingdom and the United States have established a 'Future Markets Task Force' to explore collaboration in capital markets and digital asset regulation. This initiative was agreed upon by UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent following discussions held prior to U.S. President Donald Trump's state visit to the UK. The announcement of the task force's formation on Monday did not specify the exact focus areas within capital markets and digital assets or the potential forms of cooperation. The UK Treasury stated that the 'Transatlantic Future Markets Task Force' will examine short- and medium-term collaboration strategies in digital assets as legislative and regulatory frameworks evolve. Additionally, the UK Treasury highlighted that the task force will aim to alleviate the cross-border financing burden on UK and US companies. The task force will be co-chaired by officials from both countries' treasuries and is expected to submit a report with recommendations within 180 days. Members will include regulatory bodies from both sides of the Atlantic responsible for overseeing capital markets and digital asset regulation.