The Trump administration has released a 168-page federal report proposing a framework to regulate the digital asset sector. The main aim is to make the U.S. a global leader in crypto innovation and financial technology.
New Approach to Digital Asset Regulation
The working group recommends that Congress close regulatory gaps by granting the Commodity Futures Trading Commission (CFTC) oversight of spot markets. It also calls for enabling digital asset trading through new clarity on custody, registration, and compliance.
Creation of the First Stablecoin Law
The GENIUS Act, signed by Trump on July 18, establishes the first federal framework for stablecoins, mandating them to be fully backed by dollars or equivalent liquid reserves. The law aims to modernize payments and help phase out outdated banking infrastructure.
Proposed Tax Reforms and Banking Clarity
The report also addresses tax confusion by urging the IRS to issue new guidance on staking, mining, and transaction thresholds. It proposes new taxation rules for digital assets and encourages streamlined bank approvals for digital asset services.
The regulatory clarity proposed by the Trump administration could significantly reshape the position of the crypto industry in the U.S. These initiatives are expected to establish a foundation for the active participation of digital assets in the national economy.
