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Trump's Advisors Just Laid Out A Crypto Blueprint—Here's What's In It

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Trump's Advisors Just Laid Out A Crypto Blueprint—Here's What's In It

A White House advisory group formed under President Donald Trump has released a comprehensive report urging federal agencies to clarify rules governing digital assets and accelerate the rollout of innovative crypto products.

What Happened: The Working Group on Digital Asset Markets, established by executive order earlier this year, is calling on Congress and regulators to modernize oversight frameworks to better accommodate the evolving crypto ecosystem.

The report encourages the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to use existing legal authority to streamline federal rules for digital asset trading.

It emphasizes immediate action on key areas such as trading, custody, and registration to eliminate uncertainty and reduce regulatory friction.

One of the central recommendations is for lawmakers to pass the Digital Asset Market Clarity Act, a bill that would authorize the CFTC to oversee spot markets for digital assets that are not classified as securities.

The report also highlights the need for safe harbor provisions that would allow new crypto products to reach users without lengthy delays.

Also Read: JPMorgan Partners With Coinbase To Expand Crypto Access For 80M Customers

Why It Matters: The working group proposes further clarity on how banks can issue stablecoins and use blockchain infrastructure, and urges transparency around the process of acquiring federal bank charters.

It also recommends that bank capital requirements be updated to reflect the distinct risk profile of digital assets.

This report follows Trump's recent signing of the first federal law regulating dollar-backed stablecoins, a major step toward integrating digital currencies into the broader financial system.

Previously known for his skepticism, Trump has emerged as a pro-crypto figure, appointing venture capitalist David Sacks to lead AI and digital asset policy efforts, and ordering the creation of a Strategic Bitcoin Reserve.

In addition to regulatory reform, the report calls for updated tax rules for digital assets, including their classification as a new asset class for federal tax purposes and inclusion in wash sale rules to curb tax avoidance.

It also requests further guidance from the IRS and Treasury on how these assets interact with corporate tax regulations.

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Image: Shutterstock

 

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Posted-In: Cryptocurrency News

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