US and UK Join Forces on Groundbreaking Crypto Partnership

The US and UK are preparing to unveil a new cooperation agreement on digital assets, including cryptocurrency, according to sources. Discussions on strengthening transatlantic collaboration in digital assets and capital markets took place on Tuesday between Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent, sources revealed to the Financial Times.

A last-minute discussion, according to the Financial Times, finalized the agreement. This followed an appeal from crypto industry groups to the UK government last Thursday, prior to Trump’s state visit, advocating for the inclusion of digital assets and blockchain in any new US-UK deal. Additionally, the agreement is anticipated to encompass stablecoins, a segment of the crypto market experiencing significant growth in the US this year.

Over the past year, the United States has taken a more pro-crypto stance, especially since Trump returned to office. The SEC and Federal Reserve have eased regulations on how institutions manage digital assets, offering clearer guidelines and greater transparency for the industry. Meanwhile, the UK has traditionally been more cautious, enforcing strict MiCA regulations. However, a new deal with the US could pave the way for greater crypto acceptance in the UK.

Sources told the FT that the UK saw a “huge opportunity” in digital assets. The Trump administration’s pro-crypto stance made closer UK-US cooperation “vital to unlocking adoption” in Britain.

Former Conservative chancellor George Osborne, now on Coinbase’s global advisory council, previously wrote in the Financial Times that the UK was falling behind the US in cryptocurrency, stating, “On crypto and stablecoins, as on too many other things, the hard truth is this: we’re being completely left behind. It’s time to catch up.”

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