US and UK Back Shared Stablecoin Rules to Boost Cross-Border Digital Payments

The U.K. and U.S. governments have issued a shared view on stablecoins through their Transatlantic Taskforce for Markets of the Future. The statement signals a push toward aligned rules for reserves, redemption, market access and cross-border use.

Key Takeaways

• The U.K. and U.S. backed aligned stablecoin rules for reserves, redemptions and market access.
• Both governments support 1:1 backing with high-quality liquid assets and holder protections.
• Cross-border stablecoin access is a priority as U.K.-U.S. regulatory cooperation expands.

Transatlantic Taskforce Backs U.K.-U.S. Stablecoin Rules for Payments and Markets

The United Kingdom and the United States are moving toward closer coordination on stablecoin regulation, setting out shared principles aimed at preventing digital money rules from splitting the transatlantic financial system.

In a joint statement under the Transatlantic Taskforce for Markets of the Future, established in Sept. 2025, both governments said stablecoins could improve payments, settlement and financial market infrastructure if properly regulated.

The statement frames stablecoins as part of a broader shift in money and capital markets. It also makes clear that both countries want private digital money to develop alongside public-sector oversight.

The two governments said they are “committed to deepening our collaboration on capital markets and digital assets,” adding that innovation should strengthen, “rather than fragment, our transatlantic marketplace.”

Stablecoins Seen as Cross-Border Settlement Tool

The U.K. and U.S. said they intend to enable stablecoins for cross-border finance, including payments, settlement, capital markets, and transactions between jurisdictions.

Both governments said stablecoins are “an important vehicle for innovation in digital money” and committed to supporting safe, sound, and stable growth in their circulation and use.

The statement also backed the coexistence of several forms of digital money, including stablecoins, tokenized deposits and similar instruments. That language suggests neither country wants to create a single official model for digital money. Instead, they aim to set standards while allowing private-sector competition.

The governments also emphasized market access. They said lawful, regulated stablecoin and digital-asset providers should have “fair, risk-based access to financial services and markets.”

That point is significant for crypto firms that have struggled with banking access in both markets. It suggests stablecoin issuers and users should not be shut out of financial services simply because they operate in digital assets, provided they meet regulatory standards.

One-to-One Backing and Holder Protection

The statement sets a clear expectation for reserves. The U.K. and U.S. said stablecoins held out as money should be “fully backed, on at least a one-to-one basis, by high-quality, liquid assets.”

They also said eligible reserves should be clearly defined in each country’s regulatory framework. At the same time, the two governments warned against overly restrictive reserve rules that could fragment markets or undermine commercial viability.

The statement also calls for strong custody, segregation, and redemption standards. Reserve assets should be kept separate from an issuer’s own funds and safeguarded for stablecoin holders. Issuers should also provide timely redemption and clear disclosure of holders’ legal rights.

In the event of issuer failure, both countries said stablecoin holders should have a clear and protected legal claim on reserves, potentially with priority ahead of other creditors, depending on domestic law.

The statement closes with a commitment to explore pathways for stablecoins issued in one jurisdiction to access the other’s market. For the stablecoin industry, that may be the most important signal: the U.K. and U.S. are not only writing domestic rules but also looking to make them work across borders.