Discussions on the regulation of stablecoins between US and UK officials took place in London.
There is agreement on the need to fully require one-to-one stablecoin reserves.
The issue of cooperation in cross-border regulation and market access was raised.
The two countries have been ramping up their efforts related to the regulation of stablecoins because both countries are in the process of refining their regulations concerning digital assets. A delegation from HM Treasury and US Treasury met in London on July 8 for the 13th session of the Financial Regulatory Working Group between the UK and US. The participants in this meeting included members from the Bank of England, FCA, Federal Reserve, SEC, CFTC, FDIC, and OCC. No proposals of rules were made in this meeting, only alignment of regulatory principles.
Stablecoins Go from Law to International Cooperation
Digital finance continued to be at the heart of the London summit of US and UK regulators. Where US regulators
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