U.S. Crypto Working Group Pushes for Clearer Trading Rules and Tax Framework

The U.S. administration’s cryptocurrency working group has urged federal regulators to provide clearer trading rules for digital assets, signaling a broader push to streamline the adoption of crypto across the financial system. The initiative, established in January 2025, has called on the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to define clear guidelines for custody, trading, registration, and record-keeping for digital assets. This effort follows the passage of three major crypto-related bills in July 2025, including the GENIUS Act, which aims to regulate stablecoins and reduce systemic risks in the market [1].

The working group, led by David Sacks, has emphasized the need to eliminate bureaucratic delays that hinder the launch of new financial products. On tax policy, it has recommended that Congress recognize cryptocurrencies as a new asset class under modified versions of existing tax rules for securities or commodities. These proposals aim to reduce compliance burdens and encourage broader participation in the crypto market [1].

Industry insiders have noted that the GENIUS Act, in particular, could serve as a major catalyst for real-world asset tokenization by removing regulatory barriers. The Atlantic Council highlighted that the new regulatory environment is likely to attract more financial institutions into the crypto space, with major Wall Street firms like JPMorgan, Citigroup, and Bank of America already signaling interest in stablecoins [1].

Michael Sonnenshein, former CEO of Grayscale and president of Securitize, said the new legislation offers “additional air cover” for hesitant market participants, particularly asset issuers who may now feel more confident entering the tokenized securities market [1].

Notably, the working group’s recommendations did not include any mention of President Trump’s earlier proposal for a U.S. Bitcoin reserve. This omission has raised questions about whether the group viewed the idea as impractical or chose to focus instead on immediate regulatory needs. Analysts suggest the decision reflects a pragmatic approach, prioritizing foundational measures such as investor protection, market stability, and anti-money laundering (AML) compliance over more speculative monetary policy shifts [1].

The administration’s focus appears to be on creating a stable and predictable environment for digital assets, which could foster innovation while ensuring transparency and sustainability. By addressing key regulatory gaps and clarifying tax obligations, the U.S. is positioning itself to support the continued integration of crypto into the broader financial system [1].

Sources:

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

https://coinmarketcap.com/community/articles/688a36ee1c29df0fa3641d9b/

[2] Trump's Crypto Group Urges Regulatory Clarity

https://cointelegraph.com/news/trump-crypto-working-group-calls-regulatory-clarity

[3] White House Set to Unveil Closely Watched Crypto Policy

https://gvwire.com/2025/07/30/white-house-set-to-unveil-closely-watched-crypto-policy-report/