US and UK to deepen crypto collaboration: Financial Times
Quick Take
- UK Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent discussed working together on crypto, according to the Financial Times.
- Last week, industry groups pressed the British government to include stablecoins and tokenization in the U.S.-UK Tech Bridge.
The U.S. and the UK plan to work closer together on cryptocurrency oversight, according to reporting from the Financial Times.
UK Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent discussed the collaboration during a meeting on Tuesday. Representatives from the Bank of America, Barclays, Circle, Citi, Coinbase, and Ripple also attended, FT reported. Circle and Coinbase did not immediately respond to a request for comment.
Cassie Craddock, managing director of UK & Europe at Ripple said the planned cooperation has “the potential to set a template for international cooperation in our industry,’ in a statement sent to The Block.
“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 said. “Increased international collaboration between the UK and US will further serve to unlock the full economic potential of blockchain technology in both countries.”
Last week, industry groups pressed the British government to include stablecoins and tokenization in the U.S.-UK Tech Bridge — a bilateral initiative designed to strengthen collaboration on advanced technologies, including areas such as artificial intelligence, cybersecurity, space, quantum, and biotechnology, alongside digital finance.
The groups warned that excluding digital assets from the U.S.-UK Tech Bridge risks leaving Britain behind, while other regions move forward in shaping the future of finance.
The U.S. Securities and Exchange Commission's Hester Peirce previously proposed a "cross-border sandbox" where the U.S. and the UK would allow crypto firms to perform certain activities under regulators' oversight for two years.
The meeting among Reeves, Bessent, crypto firms, and banks comes as President Donald Trump is set to arrive in the UK on Tuesday evening, according to news reports.
Updated at 8:50 p.m. UTC time on Sept. 16 to include comment from Ripple
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
