Financial Times: UK and US establish "Future Markets Working Group" to explore cooperation in capital markets and digital asset regulation

According to a report by Jinse Finance, the UK and the US have established a "Future Markets Working Group" aimed at exploring cooperation in capital markets and digital asset regulation, as reported by the Financial Times. UK Chancellor of the Exchequer Rachel Reeves and US Treasury Secretary Scott Bessent reached an agreement to set up this official working group following talks at Downing Street last week. The group will be jointly chaired by officials from both the UK and US Treasury Departments and will include representatives from regulatory agencies responsible for capital markets and digital asset regulation in both countries. The working group will focus on short-term and medium-term cooperation options during the development of digital asset legislation and regulatory frameworks, while also working to "reduce the cross-border financing burden for UK and US businesses." The group will submit a recommendation report within 180 days.