US, UK Treasuries Unveil Joint Recommendations for Stablecoin, Tokenized-Asset Rules

The US Treasury Department and the UK’s HM Treasury said they will jointly refine regulation for stablecoins and tokenized assets.

Cointelegraph reported on July 14 that the two finance ministries released four joint recommendations on digital assets as part of the Transatlantic Taskforce for Future Markets.

The recommendations focus on two areas. On tokenized assets, they call for a private-sector-led consultative group to test cross-border use cases and for US financial authorities and the Bank of England to develop a common approach to tokenized-asset regulation. On stablecoins, the two countries said they will strengthen regulatory alignment to foster a “dynamic cross-border stablecoin market.”

In a joint statement, the two treasuries said each government will coordinate requirements to pursue comparable outcomes for similar risks and activities. The aim is to promote financial stability while avoiding market distortions and barriers to cross-border competition.

On stablecoins, the two sides agreed on the principle that they should be fully backed at a minimum 1:1 ratio with high-quality liquid assets. That is consistent with the GENIUS Act, a US stablecoin law signed last year. The law is due to take effect in January 2027 and is awaiting detailed rules.

Alongside the joint statement, an industry task force under the UK government said in a separate report that Britain could generate as much as $44 billion in annual economic value by 2035 if it becomes a leader in tokenization and global tokenization expands. The report urged the government to pursue issuance of tokenized government bonds and tests of blockchain-based financial transactions by the first quarter of 2027.