US-UK joint statement: plans to include stablecoins in cross-border finance to enhance efficiency and competitiveness

On July 14, the governments of the United States and the United Kingdom issued a joint statement through the “Transatlantic Working Group on Markets,” stating their intention to incorporate stablecoins into future cross-border financial cooperation. In the statement, both governments explicitly said: “Both governments recognize that well-regulated stablecoins have significant potential—they can not only improve the efficiency and competitiveness of our financial systems but also modernize the infrastructure of financial markets and meaningfully enhance the processes for cross-border payments and trades.”

Key takeaways from the US-UK Transatlantic Working Group’s stablecoin policy statement

(Source: Website of the US-UK Transatlantic Working Group on Markets)

According to the joint statement, the specific positioning of “well-regulated stablecoins” by the two governments is as follows:

Efficiency enhancement: Stablecoins can improve the efficiency of the financial system

Strengthening competitiveness: Help enhance the competitiveness of financial markets

Modernizing infrastructure: Can modernize the infrastructure of financial markets

Improving cross-border payments: Significantly improve the processes for cross-border payments and trading

The statement was released through the bilateral cooperation framework of the “Transatlantic Working Group on Markets,” indicating that this is the result of formal policy coordination between the US and UK, rather than a unilateral statement by a single country.

FAQ

What are the specific contents of the US-UK joint statement, and has it entered the legal implementation stage?

According to The Block, the US-UK joint statement states that it “plans to use stablecoins in cross-border financial cooperation,” and affirms the potential of “well-regulated stablecoins” to improve financial efficiency, competitiveness, and modernize infrastructure. The statement is a policy declaration, and the specific legal implementation details and timeline will be announced later by the US and UK governments.

What is the “Transatlantic Working Group on Markets”?

According to the report, the “Transatlantic Working Group on Markets” is a bilateral cooperation framework between the US and UK governments, and this joint statement was issued through this mechanism. The specific functions and membership of the working group are subject to official explanations from the US and UK governments.

What does this statement mean for the stablecoin market?

According to the report, the regulatory directions of the two countries’ major global financial hubs are aligned, providing a clearer policy framework for the cryptocurrency market, which has long been plagued by regulatory uncertainty. Members of the cryptocurrency community said that consistent regulatory steps between the US and UK will help build trust in traditional financial institutions. The specific market impact will depend on subsequent policy implementation and market response.