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

By: theblockbeats.news|2025/07/30 22:12:24
0
Share
copy

BlockBeats News, July 30th, According to DoinDesk, based on a highly anticipated report preview set to be released by the White House today, the Trump administration's friendly attitude towards cryptocurrency is signaling the United States is on the verge of a "Crypto Golden Age" — the federal level will swiftly kickstart digital asset trading and actively embrace DeFi.


In a brief summary document by the President's Working Group on Financial Markets, many of the points highlighted have already been advancing in the comprehensive legislative agenda for cryptocurrency crafted by the Trump administration, such as the GENIUS Act (aimed at regulating stablecoins) and the Clarity Act (focused on regulating the crypto market).

One aspect not yet included — at least not mentioned in the report preview — is specific details regarding the progress and plans of the federal government regarding holding Bitcoin or other digital assets in reserves. Nevertheless, for crypto practitioners who have endured over a decade of regulatory uncertainty, witnessing a clear set of rules gradually taking shape in the United States, the world's most critical crypto market, remains highly exhilarating.

One key recommendation in the preview is to urge the two major U.S. financial regulatory bodies — the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) — to swiftly address regulatory gaps, "by providing market participants with clear guidance on issues such as registration, custody, trading, and recordkeeping," and to promptly enable digital asset trading at the federal level.


The report also acknowledges that integrating DeFi technology — specifically platforms for rapid, automated crypto lending — into the mainstream financial system holds significant potential. At the same time, the working group plans to allow innovative financial products to reach consumers without cumbersome approvals by using tools such as "safe harbor provisions" and "regulatory sandboxes."

In the banking sector, the Trump administration has previously issued warnings about the so-called "Operation Choke Point 2.0" (which indirectly restricts crypto companies' access to banking services). Looking ahead, the working group suggests creating clearer capital rules and enhancing transparency in the application process for crypto companies seeking a primary account or banking license.

Stablecoins are also highlighted in the report as a core topic, seen as a "critical tool for strengthening the dollar's global position." Earlier this month, Trump signed the GENIUS Act, which established a federal framework for stablecoins, and the working group recommends that relevant agencies promptly implement the contents of the act.


Regarding cryptocurrency taxation, the working group proposes that the Treasury Department and the Internal Revenue Service (IRS) review previous tax guidance on activities like mining and staking, and issue new guidance on issues such as Corporate Minimum Alternative Tax (CAMT) and small-scale digital asset receipts to facilitate everyday cryptocurrency payments.

You may also like

Global Launch: As predictions become the most scarce asset in the AI era, Manadia is defining the next generation of the value internet

The trusted AI prediction ecosystem Manadia, which has secured $7 million in funding from well-known institutions like OKX, will globally launch in June. The core token UMXM has already been listed on multiple mainstream platforms, inviting you to seize the new blue ocean of the trillion-level predi...

Who is footing the bill for the $64 billion accounting frenzy?

Affected by Bitcoin falling below $60,000, publicly listed companies heavily invested in this asset are facing huge paper losses and valuation discounts, and their debt structure and accounting standards may trigger structural liquidity risks in the future.

Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion

Overview of Important Market Events on June 25

Why do cryptocurrency projects always like to change their names?

In many cases, the old names of encryption projects have no competitive advantage, only historical baggage.

From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework

Give up on heavily investing in Nvidia's "nine major bottlenecks"! This article analyzes the underlying logic behind top AI investors making billions: physical infrastructure such as electricity, HBM, and optical interconnects are the true keys to wealth in AI hardware.

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies

Overview of Important Market Events on June 24

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com