An analysis of the new Trump administration report on digital assets highlights a focus on regulation and innovation, but raises questions due to the absence of mention of a Bitcoin reserve.
Trump's Report: What's Included?
The crypto policy report, prepared by the working group based on Trump's January executive order, covers multiple aspects of the crypto market including trading, custody, and taxation. The primary focus is on the need for passing the Digital Asset Market Clarity Act, which would grant the Commodity Futures Trading Commission (CFTC) authority over spot markets.
Support for Stablecoins and Rejection of CBDCs
The report supports the use of US dollar-backed stablecoins, viewing them as strategic tools. Conversely, the administration stands firmly against the idea of a central bank digital currency (CBDC), proposing legislation to permanently block such initiatives in the US.
The Absence of the Bitcoin Reserve and Its Implications
Despite expectations, the report does not mention the proposed strategic Bitcoin reserve. This omission raises many questions in the market and may signal that the plan could be delayed or kept hidden for a more dramatic announcement.
The new report marks an important step toward clarity in cryptocurrency regulation, but the absence of reference to the Bitcoin reserve leaves the future of this initiative open to speculation.
