Bitcoin News Today: Trump Crypto Working Group Proposes Regulatory Clarity and Tax Reforms

The Trump administration’s Presidential Working Group on Digital Asset Markets has called for comprehensive regulatory reforms to establish a clear legal framework for digital assets. In a detailed report released in mid-July 2025, the group emphasized the need for federal agencies to define their roles and responsibilities in overseeing the fast-evolving crypto market. The report spans 160 pages and outlines measures to streamline operations, reduce compliance costs, and foster innovation [1].

A core recommendation is the passage of the Digital Asset Market Clarity Act, which would differentiate between digital commodities and investment contracts. This act aims to clarify the jurisdictional boundaries between the SEC and CFTC, ensuring that market participants face fewer ambiguities [2]. The report also encourages both the SEC and CFTC to issue guidance on key areas such as registration, custody, and trading, allowing digital assets to be traded at the federal level [1].

Tax modernization was another focal point of the report. The Treasury and IRS were urged to provide clarity on the tax treatment of staking, mining, and small digital asset transactions. The working group proposed extending wash-sale rules to crypto assets, aligning tax regulations with the unique characteristics of the market [3]. These tax reforms are expected to offer greater certainty to investors and reduce compliance burdens.

The group also advocated for updated market rules to support tokenized trading of traditional assets like stocks and bonds. It called for modernizing transfer-agent regulations to enable blockchain-based recordkeeping, enhancing efficiency and transparency in financial markets [4]. These measures are intended to maintain the U.S.’s competitive edge in the global digital asset landscape.

While the report did not disclose specifics on the administration’s Strategic Crypto Reserve—despite previous speculation about government-held Bitcoin—the focus on regulatory and tax reforms was broadly welcomed. The absence of the reserve plan was a point of contention for some in the industry, who had anticipated more direct government involvement in accumulating digital assets. Nevertheless, the emphasis on structural reforms was seen as a positive step forward [5].

Led by tech investor David Sacks, the working group includes key figures such as Treasury Secretary Scott Bessent, SEC Chair Paul Atkins, and CFTC Chair Caroline Pham. Their recommendations reflect a balanced approach to fostering innovation while ensuring investor protection. The report underscores a clear intent to position the U.S. as a global leader in the digital economy [6].

Sources:

[1] Cointelegraph - [https://cointelegraph.com/news/trump-crypto-working-group-calls-regulatory-clarity](https://cointelegraph.com/news/trump-crypto-working-group-calls-regulatory-clarity)

[2] AInvest - [https://www.ainvest.com/news/trump-crypto-working-group-urges-faster-regulation-tax-clarity-digital-assets-2507/](https://www.ainvest.com/news/trump-crypto-working-group-urges-faster-regulation-tax-clarity-digital-assets-2507/)

[3] Morningstar - [https://www.morningstar.com/news/marketwatch/20250730426/trump-crypto-groups-report-skips-strategic-bitcoin-reserve-but-industry-remains-unfazed](https://www.morningstar.com/news/marketwatch/20250730426/trump-crypto-groups-report-skips-strategic-bitcoin-reserve-but-industry-remains-unfazed)

[4] blockhead.co - [https://www.blockhead.co/2025/07/31/trump-administration-releases-comprehensive-crypto-policy-framework/](https://www.blockhead.co/2025/07/31/trump-administration-releases-comprehensive-crypto-policy-framework/)