US, UK deepen stablecoin talks after GENIUS Act

US and UK financial regulators have expanded talks on stablecoins, tokenization and digital asset oversight as Washington begins implementing the GENIUS Act. Summary The 13th UK-US regulatory meeting took place in London on July 8. US officials briefed UK regulators on GENIUS Act implementation and crypto market structure. Both governments support one-to-one stablecoin backing and greater cross-border regulatory coordination. The Bank of England has replaced proposed holding limits with a £40 billion issuance cap. US, UK regulators discuss stablecoin policy Senior officials from HM Treasury and the US Treasury met in London for the 13th UK-US Financial Regulatory Working Group meeting, according to an Aug. 4 joint statement. Representatives from the Bank of England, Financial Conduct Authority, Federal Reserve, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency also attended. Digital finance formed a central part of the July 8 meeting. US officials updated their UK counterparts on the implementation of the GENIUS Act, which establishes a federal framework for payment stablecoi...