According to Cointelegraph, the United States and the United Kingdom reaffirmed their commitment to enhancing regulatory cooperation on digital assets during the 13th Financial Regulatory Working Group meeting on July 8, with key discussions on the implementation of the GENIUS Act, the regulatory framework for stablecoins, and the modernization of cross-border payments. In a joint statement on August 4, both parties expressed their intent to align stablecoin policies and tokenization strategies to provide regulatory support for digital asset innovation. The Bank of England is reassessing reserve requirements for stablecoins, considering easing the 40% non-interest-bearing deposit restriction in response to regulatory developments in the U.S. dollar stablecoin space.
US and UK Strengthen Digital Asset Regulatory Cooperation, Focus on Stablecoin Policies and Cross-Border Payments
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Summary
On August 4, the US and UK announced enhanced cooperation on digital asset regulation following a July 8 meeting of the 13th Financial Regulation Working Group. Both countries intend to harmonize stablecoin policies and tokenization strategies under the GENIUS Act framework. The Bank of England is reviewing stablecoin reserve requirements, potentially adjusting the 40% interest-free deposit cap. Cross-border payments and liquidity in crypto markets were also key topics of discussion.
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