The White House has released its first official report on cryptocurrency regulation, setting the direction for U.S. policy. The document was prepared by the President's Working Group on Digital Assets and outlines key regulatory initiatives.
Regulatory Strategy for Cryptocurrencies
The 22-page report marks the first comprehensive crypto strategy from the administration since Donald Trump returned to office. The Working Group outlined how Congress, the SEC, and CFTC should be more proactive in filling legal gaps, streamlining bureaucracy, and maintaining U.S. leadership in the new era of crypto.
Calls for Action on DeFi and Stablecoins
The Working Group urged Congress to pass legislation granting the CFTC clear authority to regulate spot markets. The report emphasized the importance of integrating DeFi technologies into mainstream finance and called for expediting the federal trading approval process.
Tax Policy Updates and Anti-Money Laundering Measures
The report examines the need for updating tax policies regarding cryptocurrencies and clarifies how anti-money laundering laws should apply to crypto firms. The Working Group proposed creating a new asset class for cryptocurrencies under federal tax laws.
The document highlights the administration's commitment to clearer and more effective cryptocurrency regulation, which could foster industry growth and user protection.
