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The UK is about to broaden cooperation with the US on digital property whereas exploring a extra crypto-friendly method to spice up innovation and appeal to funding.
That’s based on a Monetary Instances report that cited sources acquainted with the matter after discussions on Tuesday between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent.
The story mentioned the initiative seeks to do extra to harmonize regulatory frameworks, notably 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 mentioned that there’s presently a “big alternative for the UK” in crypto, and that Trump’s pro-crypto stance is seen as “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 the moment. 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 power to check blockchain expertise.
UK And US Offers Are Probably To Embrace Stablecoins
In accordance with the FT report, any crypto-centered offers between the UK and US will seemingly contain stablecoins. These digital property bought a significant enhance from an adoption and regulatory standpoint after US President Trump signed the GENIUS Act into legislation.
Trump can be concerned in crypto ventures that contain stablecoins. The most important of those endeavors is USD1, a stablecoin launched by the Trump family-backed World Liberty Monetary.
Since its launch in April this 12 months, USD1’s market cap has risen to over $2.65 billion, rating it because the fifth-biggest stablecoin by way of capitalization, based on CoinMarketCap.
Prime 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 determine 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 making an attempt to restrict stablecoin possession.
In a current proposal, the central financial institution mentioned it needs 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 needed to restrict the quantity of stablecoins companies might maintain.
The business lambasted the financial institution for that proposal, and in addition argued that it could 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 traders mentioned that their banks had both blocked or delayed a fee to a crypto supplier.
UK Regulator Considers Waiving Some Guidelines For Crypto Companies
The pushback the Financial institution of England acquired 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 the moment, which units out the minimal requirements that firms working within the crypto area should meet as soon as the business is formally introduced below its remit. In accordance with the regulator, the foundations are designed to steadiness competitiveness and innovation with protections for customers whereas concurrently guaranteeing market integrity.
Within the session paper, the FCA mentioned that most of the guidelines are much like ones that apply to establishments within the conventional finance sector.
The monetary regulator can be searching for feedback on whether or not the UK’s Client Obligation, which requires conventional finance corporations to ship good outcomes for his or her shoppers, ought to apply to crypto asset actions and digital asset firms as effectively.
That comes after His Majesty’s Treasury revealed its draft laws for crypto in April. On this draft, plans to deliver exchanges, brokers and sellers in step with present rules had been outlined.
These plans sign that the UK is “open for enterprise,” however closed to abuse and fraud, the federal government mentioned.
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