Sources: UK and US disagree on crypto cooperation

PANews reported on March 5th, citing Reuters, that sources familiar with the matter revealed disagreements between British and American regulators regarding how to test blockchain-based financial securities. The two sides announced the formation of a working group last September to reduce market entry barriers and strengthen cooperation on digital assets. However, at a meeting in January, the UK favored testing tokenized securities through a "sandbox," while representatives from the US SEC expressed concerns, questioning its commercial viability and impact on innovation. The US prefers an "exemption" approach, a practice supported by the US crypto industry. While both sides have reached broad consensus on goals such as harmonizing stablecoin rules, disagreements remain on specific testing pathways. The working group is expected to submit a recommendation report before the summer.