U.S. White House Outlines Pro-Crypto Policy Shift with New Regulatory Framework

The U.S. White House is set to release a landmark report on cryptocurrency policy that signals a significant shift toward a more supportive regulatory framework for digital assets. The report emphasizes the growing importance of decentralized finance (DeFi) and outlines steps to foster a more structured and accessible crypto market at the federal level, reflecting the Trump administration’s broader vision for the “Crypto Golden Age” [1].

A summary document from the President’s Working Group on Financial Markets highlights several legislative initiatives already in motion, including the GENIUS Act, aimed at regulating stablecoins, and the Clarity Act, designed to provide regulatory clarity for the broader crypto market. These initiatives suggest a coordinated effort to modernize the U.S. financial system and integrate emerging digital technologies into traditional infrastructure [1].

Despite these developments, the report preview does not include specific updates on the federal government’s plans to hold Bitcoin or other digital assets in its reserves. This omission has sparked speculation and uncertainty among crypto practitioners who have long awaited clarity on how public institutions might engage with digital currencies. However, the mere progress toward a defined regulatory framework is seen as a major milestone for the industry [1].

A key recommendation from the report is the need for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to act swiftly in addressing regulatory gaps. This includes providing market participants with clear guidance on registration, custody, trading, and recordkeeping—measures intended to enable digital asset trading at the federal level [1].

The document also recognizes the potential of DeFi technologies, particularly in areas like automated lending, and proposes the use of tools such as "safe harbor provisions" and "regulatory sandboxes" to allow innovative financial products to reach consumers without unnecessary bureaucratic hurdles [1].

In the banking sector, the administration has previously raised concerns about policies that indirectly restrict crypto companies’ access to financial services, such as the so-called “Operation Choke Point 2.0.” The working group now recommends clearer capital rules and more transparent processes for crypto firms seeking primary accounts or banking licenses [1].

Stablecoins are highlighted as a strategic asset in the report, with the group emphasizing their role in reinforcing the dollar’s global dominance. The recent passage of the GENIUS Act, which creates a federal framework for stablecoins, is expected to be swiftly implemented by relevant agencies [1].

On the taxation front, the report proposes that the Treasury Department and the IRS review and update guidance on crypto-related activities such as mining and staking. It also suggests new rules for issues like the Corporate Minimum Alternative Tax (CAMT) and small-scale digital asset receipts to facilitate everyday crypto transactions [1].

The White House’s approach represents a departure from earlier regulatory skepticism and positions the U.S. as a key player in shaping the future of digital finance. However, the absence of concrete plans on government-held digital assets leaves room for continued debate and speculation within the crypto community [1].

Source:

[1] White House Cryptocurrency Report to Embrace DeFi, But Lacks Progress on Government Reserve Bitcoin or Other Digital Assets

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