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According to a Tuesday report from the Financial Times, UK Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent discussed the planned closer cooperation during a Tuesday meeting, with crypto firms and banks, including Coinbase, Circle, Ripple, Citi, Bank of America, and Barclays, present.
Ripple’s managing director of UK & Europe, Cassie Craddock, noted that the plan has the potential “to set a template for international cooperation in our industry.”
“With its dynamic economy, deep capital markets, and extensive talent pool, the UK has long been one of the world’s leading global financial centres, and now is poised to become a leading digital asset and innovation hub,” Craddock posited. “Increased international collaboration between the UK and US will further serve to unlock the full economic potential of blockchain technology in both countries.”
Cross-Border Collaboration
The agreement to collaborate was made “last-minute” after crypto advocacy groups pressed the British government on Thursday to adopt a more open stance toward the fast-growing industry. They claimed the government’s cautious approach towards the sector has left it lagging, while other regions move forward in shaping the future of finance.
 
UK officials revealed that Reeves hopes a closer alignment of rules with the US will extend market access and attract greater American investment, amid concerns that London is losing ground to New York as firms chase higher valuations.
Any agreement between the countries is also likely to include stablecoins, the FT reported, a sector of crypto that US President Donald Trump made a policy priority and in which his family has deep ties.
The U.S. Securities and Exchange Commission’s Hester Peirce previously proposed a U.S.-UK crypto regulatory “cross-border sandbox” where crypto firms would be allowed to perform certain activities under regulators’ oversight for two years.
Source: https://zycrypto.com/uk-and-us-to-reportedly-work-closer-together-on-crypto-matters/