InfoBytes Blog
U.S.-UK partnership exchanges views on crypto, digital assets
On July 1, the U.S. Treasury Department issued a joint statement providing an overview of recent meetings of the U.S.-UK Financial Innovation Partnership (FIP) where Regulatory and Commercial Pillar participants exchanged views “on topics of mutual interest in the U.S. and UK regarding crypto and digital asset ecosystems.” Participants also discussed options for deepening ties between U.S. and UK financial authorities on financial innovation. As previously covered by InfoBytes, the FIP was created in 2019 as a way to expand bilateral financial services collaborative efforts, study emerging fintech innovation trends, and share information and expertise on regulatory practices. The first meeting of the FIP took place in August 2020 (covered by InfoBytes here). Topics discussed in the most recent meeting included, among other things, crypto-asset regulation and market developments, including recent developments related to stablecoins and the exploration of central bank digital currencies, and other recent market developments on digital assets. Participants acknowledged “the continued importance of the ongoing partnership on global financial innovation as an integral component of U.S.-UK financial services cooperation.”