The UK and US have launched the "Future Markets Task Force" to explore cooperation on digital asset regulation and capital markets, aiming to enhance the UK's financial services sector. This initiative was agreed upon by UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent ahead of President Trump's state visit to the UK. The task force will focus on reducing cross-border financing burdens and will submit recommendations within 180 days. The task force, co-chaired by UK and US Treasury officials, will include regulators from both countries. It will explore short- and medium-term collaboration opportunities as legislative and regulatory frameworks for digital assets evolve. The UK Treasury emphasized the importance of refining these frameworks to support the financial services industry.