Bitcoin News Today: Trump Crypto Task Force Pushes Clarity Omission Bitcoin Reserve Plan

Trump’s administration has taken a decisive step in shaping the future of digital asset regulation, with a focus on creating a more structured and predictable legal framework to support innovation and adoption. In July 2025, the White House’s Working Group on Digital Asset Markets, led by David Sacks, released a series of proposals aimed at modernizing U.S. regulations for cryptocurrencies and related financial products [1]. The initiative follows the recent passage of three crypto-related bills—the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act—marking a pivotal shift in Washington’s approach to digital assets [1].

At the core of the proposals is the push for regulatory clarity around the trading, custody, registration, and record-keeping of digital assets. The working group urged the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to “immediately enable the trading of digital assets at the federal level” [1]. By removing bureaucratic delays and streamlining processes, the administration aims to accelerate the development and adoption of innovative financial products, particularly among institutional players and traditional financial institutions like banks [1].

The proposals also addressed tax policy, suggesting that Congress should recognize cryptocurrencies as a new asset class subject to modified versions of existing tax rules for securities or commodities [1]. This change could significantly ease the compliance burden for individuals and businesses engaged in crypto activities, potentially encouraging broader participation in the digital asset market.

Industry leaders have welcomed the developments as a positive step toward legitimizing digital assets within the traditional financial system. For instance, major Wall Street firms such as JPMorgan, Citigroup, and Bank of America have signaled interest in entering the stablecoin market, a move that could expand access to crypto-based financial tools for everyday consumers [1]. The Atlantic Council noted that the new legislative landscape may lead to increased bank participation in crypto services, including stablecoins and tokenized investments [1].

The GENIUS Act, in particular, has been identified as a key enabler for real-world asset tokenization by removing regulatory barriers [1]. Michael Sonnenshein, president of Securitize and former CEO of Grayscale, highlighted that the legislation could provide additional confidence to market participants who have been hesitant to enter the tokenized securities space [1]. This could pave the way for broader adoption of tokenized assets, including money market funds and real estate, as traditional finance moves closer to blockchain-based systems [1].

However, the working group’s proposals omitted one of the more controversial ideas previously floated by the Trump administration—the establishment of a U.S. Bitcoin reserve [1]. Earlier discussions had suggested backing the dollar with a reserve of Bitcoin to hedge against inflation and strengthen the currency. The absence of this idea in the final recommendations has sparked speculation that the group prioritized immediate regulatory needs over long-term monetary policy shifts [1].

The omission reflects a more pragmatic approach to digital asset policy, focusing on foundational issues such as investor protection, market stability, and anti-money laundering compliance rather than speculative economic strategies [1]. This shift could indicate a broader strategy to integrate digital assets into the financial system in a controlled and transparent manner, ensuring responsible use and minimizing risks.

As Congress continues to debate key crypto legislation, the White House’s working group has positioned itself as a central player in shaping the regulatory environment. The proposed reforms, if implemented, could significantly reduce compliance costs, encourage innovation, and enhance the accessibility of digital assets to a wider audience [1]. The administration’s emphasis on regulatory clarity and market stability suggests a long-term vision of a financial system that accommodates both traditional and emerging asset classes in a balanced and secure manner [1].

Source:

[1] Crypto Regulation: Trump Task Force Unveils Pivotal Plan, Bitcoin Reserve Omission Raises Questions

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