What Is Crypto Passporting? Adrienne Harris Supports US-UK Passporting Initiative
A fresh dimension to global financial crypto law is crypto passporting. Comparable to how companies in the European Union (EU) can operate across member states under a unified license, a US-UK passporting initiative exists. Crypto firms encounter substantial obstacles when trying to expand internationally. For instance – a company based in New York aiming to grow in London will face increased costs and delays. Crypto passporting would permit crypto businesses that are regulated in one nation to function in the other without needing to go through the full authorization procedures.
Simon Jennings, executive director of the UK Cryptoasset Business Council, stated, “A synchronized regulatory approach, including the possibility of digital asset passporting, would improve investor security, decrease regulation expenses, and facilitate much greater interoperability in cross-border markets.”
US-UK crypto passporting is the key – harmonize now and enable liquidity, listings, and innovators to traverse both shores, or risk the next trillion in market cap fleeing elsewhere
— booba (@boobacrypto) September 30, 2025
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“Financial crypto law should not be driven by ideology,” said Harris
Adrienne Harris, the outgoing leader of New York’s Department of Financial Services (DFS), has voiced her price floor for the US-UK crypto passporting scheme. “Financial crypto law should not be driven by ideology,” Harris remarked. “Consumer safety and business base level can coexist; these can be mutually beneficial.”
The DFS plays a pivotal role in the worldwide cryptocurrency environment as not only the overseer of significant financial institutions such as Goldman Sachs, Deutsche Bank, and Barclays but also as the regulator supervising major crypto firms like Coinbase and Circle.
Nonetheless, Harris announced her departure after four years in leadership.
US-UK crypto passporting is unavoidable – borders diminish, market fluidity prospers
— Allen
(@TheAllenCrypto) September 30, 2025
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US-UK Initiate Transatlantic Task Force
The governments of the US and UK have formed a strategic alliance by establishing an official joint task force aimed at diminishing regulatory hurdles for companies looking to access capital across markets. Significantly, the joint task force will align the two nations’ regulatory strategies concerning cryptocurrency oversight.
The task force was established during Trump’s visit following extensive discussions between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent.
On 22 September 2025, the US Department of the Treasury (DoT) issued a statement indicating, “The aim of the Taskforce is to investigate options for short-to-medium term cooperation on digital assets while legislation and regulatory frameworks are still evolving, as well as opportunities for long-term collaboration and additional chances for wholesale digital markets innovation.”
Key Takeaways
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The New York Department of Financial Services (DFS) wields significant influence over the global crypto asset arena.
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Adrienne Harris contends that permitting established financial institutions to engage in crypto asset markets could actually elevate industry standards.
The article What Is Crypto Passporting? Adrienne Harris Advocates For US-UK Passporting Scheme appeared first on 99Bitcoins.
