US and UK Deepen Crypto Regulatory Cooperation, Focus on Stablecoins and GENIUS Act

TechFlow News, August 5: According to Cointelegraph, the US and the UK reiterated their commitment to strengthening cooperation on digital asset regulation at the 13th Financial Regulatory Working Group meeting held on July 8, focusing on issues such as the implementation of the GENIUS Act, stablecoin regulatory frameworks, and the modernization of cross-border payments.

In a joint statement on August 4, both sides stated that they will continue to coordinate stablecoin policies and tokenization strategies to provide regulatory support for digital asset innovation. The Bank of England is re-evaluating stablecoin reserve requirements and considering relaxing the 40% non-interest-bearing deposit limit in response to regulatory developments in the US dollar stablecoin sector.