The US and the UK have unveiled a joint roadmap to align regulations for tokenized securities and stablecoins. The new collaboration aims to reduce transactional friction and facilitate the safe, cross-border use of these technologies.

The US Department of the Treasury and HM Treasury have published the initial recommendations of the Transatlantic Taskforce for Markets of the Future (TTMF), established in autumn 2025. This initiative aims to strengthen cooperation between the world’s two largest financial centers across capital markets and digital assets, while reducing unnecessary market fragmentation across jurisdictions.
The roadmap contains ten strategic recommendations designed to provide more predictable regulatory frameworks. One of the most concrete steps is the creation of a private sector-led working group to test cross-border use cases for tokenized assets. Key regulators, including the SEC, CFTC, FCA, and Bank of England, are expected to support this effort to align regulatory approaches to tokenized assets.
Alongside the roadmap, the jurisdictions issued a joint statement on stablecoins. It states that digital currencies functioning as payment instruments must be fully backed by high-quality liquid reserves on at least a one-to-one basis. Regulators also require issuers to hold reserve assets legally segregated from their own corporate funds, ensuring users' assets remain protected in the event of insolvency.
The report emphasizes that safeguarding financial stability and consumer protection must be balanced carefully, avoiding overly burdensome requirements that stifle commercial viability or deter healthy market competition. Both treasuries will continue to follow up on these recommendations through their established bilateral financial regulatory working group.
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