Chancellor meets Treasury Secretary as UK seeks to match America's digital asset embraceChancellor meets Treasury Secretary as UK seeks to match America's digital asset embrace

Britain Plans Crypto Regulatory Alignment with US Amid Trump Visit

Britain Plans Crypto Regulatory Alignment with US Amid Trump Visit

Britain is preparing to align its cryptocurrency regulations with the United States following discussions between Chancellor Rachel Reeves and Treasury Secretary Scott Bessent, the Financial Times reported Wednesday.

The discussion comes as the UK seeks to match America's crypto-friendly approach under the Trump administration, and addresses broader concerns about London's competitiveness as UK-listed companies increasingly relocate to New York exchanges seeking higher valuations.

The Tuesday meeting included representatives from Coinbase, Circle, Ripple, and major banks including Citi, Bank of America, and Barclays. Sources described the gathering as organized "last minute" after crypto industry groups lobbied the UK government ahead of Trump's state visit.

The proposed cooperation will focus on stablecoins and joint regulatory frameworks, with British officials hoping closer alignment will increase UK companies' access to US markets while attracting American investment.

The initiative highlights Britain's struggle to compete with America's enthusiastic digital asset policies. While the Trump administration has embraced cryptocurrency, UK regulators have maintained caution over systemic risks and volatility concerns.

Former Chancellor George Osborne recently warned that Britain was "being completely left behind" on crypto, reflecting growing industry frustration with regulatory hesitancy that puts UK companies at a disadvantage.

The cooperation framework includes joint digital securities sandboxes, allowing blockchain companies to test technologies across both markets simultaneously. The announcement is expected during Thursday's meetings between Trump and Prime Minister Keir Starmer.

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