The administration adapted to the cryptocurrencies of Donald Trump should inaugurate “the golden age of the American crypto”, quickly allowing the trade of digital assets at the federal level and also adopting decentralized finance (DEFI), according to an overview of a highly anticipated report of the White House later during the day.
A large part of what is underlined in a concise information sheet of the president’s working group on the digital asset markets is already in motion in the vast legislative program of Trump for the crypto: the engineering law for stablescoins and the law on clarity to supervise the cryptographic markets.
What is not included – at least in the overview of the report – is a detail on progress and plans for the federal government to store Bitcoin or other digital assets.
However, for those who have experienced more than a decade of regulatory uncertainty around cryptocurrencies, it remains striking to see a set of rules take shape in what is the most important market in the cryptographic industry.
The summary list of recommendations begins by asking the American financial guarding roads, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), having eliminated the gaps of the regulatory surveillance of the crypto, “immediately allow the negotiation of digital assets to the federal level by providing clamps on the market”.
There is also a recognition of potential gains to obtain the integration of DEFI technology – automated flat -to -travel platforms for loans and borrowing cryptographic assets – in consumer finance. In addition, the plan is to “allow innovative financial products to reach consumers without bureaucratic delays thanks to the use of tools such as safe ports and regulatory sand bins,” said the overview.
The banking sector has already been highlighted by the Trump administration for what many have taken to call “Operation Choke Point 2.0”, the denial of the stolen door of banking services to cryptographic companies. For the future, the working group recommends defining clearer capital rules and creating transparency around how cryptographic companies can obtain main accounts or banking charters.
Stablecoins – considered to be “strengthening the role of the US dollar” – also occupies the scene in the overview of the report. After the signature by President Trump of the Act on Engineering earlier this month, establishing a federal framework for Stablecoins, the working group urges agencies to implement it quickly.
The unpleasant promotion of the stables of USD contrasts with the indication of the Trump administration for the digital currencies of the Central Bank (CBDC), with other calls for a law on the state of anti-CBDC surveillance to codify the prohibition of CBDC in the United States
With regard to the taxation of the crypto, the working group recommends that the treasure and the interval of the internal income service previously issued directives on the tax treatment of activities such as mining and jalitude. There is also a call to advice on the minimum alternative business tax (CAMT) and minimis receipts for digital assets, which would facilitate crypto for payments.
“By implementing these recommendations, decision-makers can ensure that the United States leads the blockchain revolution and inaugurates the crypto golden age,” said the president’s working group.
The full report should represent full accounting of the administration’s cryptographic strategy, as required by Trump’s decree issued in his first days in power.
