US and UK financial regulators discuss stablecoins, tokenization, and digital asset oversight during the 13th UK-US regulatory meeting in London. Both governments support one-to-one stablecoin backing and greater regulatory coordination. The Bank of England has revised its stablecoin proposals, replacing holding limits with a £40 billion issuance cap. Washington is implementing the GENIUS Act, while the UK is still finalizing its framework. The next phase will depend on how the US implements the GENIUS Act and whether the two countries convert their shared principles into formal market-access arrangements. Key issues include the treatment of foreign-issued stablecoins, regulatory recognition between jurisdictions, and procedures for cross-border issuer failures. The Financial Regulatory Working Group plans to meet again in early 2027.
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