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The UK is about to increase cooperation with the US on digital belongings whereas exploring a extra crypto-friendly strategy to spice up innovation and entice funding.
That’s in line with a Monetary Instances report that cited sources aware of the matter after discussions on Tuesday between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent.
The story stated the initiative seeks to do extra to harmonize regulatory frameworks, significantly for stablecoins, and enhance UK firms’ entry to US monetary markets.
The discussions coincide with President Donald Trump’s present state go to to the UK and included executives from Coinbase, Circle, Ripple, USD Coin issuer Circle Web Group, Financial institution of America, Barclays and Citigroup.
One of many individuals cited within the report stated that there’s presently a “enormous alternative for the UK” in crypto, and that Trump’s pro-crypto stance is seen as “very important” to unlocking digital asset adoption in Britain.
Collectively we’re delivering funding and alternative for each our international locations.
It was a pleasure to welcome @SecScottBessent to Downing Road at present. pic.twitter.com/rvI435Jz0O
— Rachel Reeves (@RachelReevesMP) September 16, 2025
UK officers are reportedly already working with the US to create digital securities sandboxes, which is able to give firms working within the monetary sector the flexibility to check blockchain know-how.
UK And US Offers Are Seemingly To Embody Stablecoins
In line with the FT report, any crypto-centered offers between the UK and US will seemingly contain stablecoins. These digital belongings obtained a significant increase from an adoption and regulatory standpoint after US President Trump signed the GENIUS Act into legislation.
Trump can also be concerned in crypto ventures that contain stablecoins. The largest of those endeavors is USD1, a stablecoin launched by the Trump family-backed World Liberty Monetary.
Since its launch in April this yr, USD1’s market cap has risen to over $2.65 billion, rating it because the fifth-biggest stablecoin by way of capitalization, in line with CoinMarketCap.
High stablecoins by market cap (Supply: CoinMarketCap)
Along with World Liberty Monetary, the Trump household is concerned in crypto mining, decentralized prediction markets, and even have their very own meme cash known as Official Trump (TRUMP) and Melania (MELANIA). The President additionally signed an govt order shortly after taking workplace to ascertain a US Strategic Bitcoin Reserve.
Whereas the Trump Administration and the US have pushed ahead with pro-crypto insurance policies, the Financial institution of England was not too long ago slammed for attempting to restrict stablecoin possession.
In a current proposal, the central financial institution stated it desires to cap particular person stablecoin holdings to between 10,000 and 20,000 British kilos, which equates to between $13,650 and $27,300. It additionally wished to restrict the quantity of stablecoins companies may maintain.
The business lambasted the financial institution for that proposal, and in addition argued that it will be each tough and costly to implement these proposed restrictions.
UK banks have additionally tried to tame adoption. Round 40% of two,000 not too long ago surveyed crypto buyers stated that their banks had both blocked or delayed a cost to a crypto supplier.
UK Regulator Considers Waiving Some Guidelines For Crypto Corporations
The pushback the Financial institution of England obtained for its stablecoin possession proposal was adopted with new proposals from the UK’s high monetary regulator, the Monetary Conduct Authority (FCA).
The monetary watchdog revealed a session paper at present, which units out the minimal requirements that firms working within the crypto house should meet as soon as the business is formally introduced below its remit. In line with the regulator, the principles are designed to stability competitiveness and innovation with protections for shoppers whereas concurrently making certain market integrity.
Within the session paper, the FCA stated that lots of the guidelines are just like ones that apply to establishments within the conventional finance sector.
The monetary regulator can also be looking for feedback on whether or not the UK’s Client Responsibility, which requires conventional finance companies to ship good outcomes for his or her shoppers, ought to apply to crypto asset actions and digital asset firms as properly.
That comes after His Majesty’s Treasury revealed its draft laws for crypto in April. On this draft, plans to convey exchanges, brokers and sellers in step with present laws had been outlined.
These plans sign that the UK is “open for enterprise,” however closed to abuse and fraud, the federal government stated.
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