PANews reported on September 22nd that the UK and the US have established a "Future Markets Task Force" to explore collaboration on capital markets and digital asset regulation to promote the development of the UK's financial services industry, according to the Financial Times. UK Chancellor of the Exchequer Rachel Reeves and US Treasury Secretary Scott Bessent agreed to establish the official group following talks ahead of US President Trump's state visit to the UK. The task force's announcement on Monday did not detail the capital markets and digital asset areas it will focus on, nor the potential forms of collaboration. The UK Treasury stated that the Transatlantic Future Markets Task Force will explore options for short- and medium-term collaboration on digital assets while the legislative and regulatory frameworks are gradually refined. The Treasury also stated that the group will focus on "reducing the burden of cross-border financing for UK and US companies." The task force will be co-chaired by UK and US Treasury officials and will submit its recommendations within 180 days. Members will include regulators on both sides of the Atlantic responsible for capital markets and digital asset regulation.