US And UK Financial Regulators Form Partnership For Crypto Regulation
Login

US And UK Financial Regulators Form Partnership For Crypto Regulation

Estimated Reading Time: 3 minutes

Azeez Mustapha

Updated:


The US Department of the Treasury released a joint statement with Her Majesty’s Treasury last week on a collaborative effort on the UK – US Financial Regulatory Working Group.

The group held a meeting on July 21, which was attended by officials and senior staff from HM Treasury, the Bank of England, the Financial Conduct Authority, the US Treasury Department, the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC).

US And UK Financial Regulatory Synergy Forged Since 2008

The recent statement revealed that the working group was formed in 2008 “to deepen bilateral regulatory cooperation with a view to the further promotion of financial stability; investor protection; fair, orderly, and efficient markets; and capital formation in both jurisdictions.”

The group evaluated the outcomes of the US – UK Financial Innovation Partnership in a meeting in June. At the meeting, the regulators laid out views on “crypto-asset regulation and recent market developments, including those in relation to stablecoins, and the exploration of central bank digital currencies (CBDCs).” The Treasury further noted:

“All participants committed to continued cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins across jurisdictions.”

The financial regulatory agency also noted: “Participants also considered future opportunities for further discussion on broader crypto-asset regulatory initiatives.”

The statement concluded that both regulators “recognized the continued importance of the ongoing partnership on global financial innovation and acknowledged the importance of both maintaining and further engaging in multilateral discussions on these topics.”

Last month, Chief Executive of the UK Financial Conduct Authority Nikhil Rathi noted: “The US and UK will deepen ties on crypto-asset regulation and market developments — including in relation to stablecoins and the exploration of central bank digital currencies.”

 

You can purchase Lucky Block here. Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News