According to BlockBeats, on July 30, DoinDesk reported that a highly anticipated report preview to be released by the White House today suggests that the Trump administration's friendly stance toward cryptocurrency is heralding the arrival of a 'crypto golden age' in the United States—where federal-level digital asset trading will be rapidly initiated and DeFi will be actively embraced.
Many of the points mentioned in the President's Digital Asset Market Working Group's briefing document have already been advanced in the legislative agenda for cryptocurrency established by the Trump administration, such as the GENIUS Act (to regulate stablecoins) and the Clarity Act (to regulate the crypto market). What has not yet been included—at least in the preview of the report—are specific details about the federal government's progress and plans to hold Bitcoin or other digital assets. Nevertheless, for those in the crypto industry who have experienced more than a decade of regulatory uncertainty, it is still very encouraging to see a complete set of clear rules gradually taking shape in the United States, the world's most important crypto market. A key recommendation in the preview is to require the two major U.S. financial regulators—the SEC and the CFTC—to quickly fill regulatory gaps by providing clear guidance to market participants on issues such as registration, custody, trading, and record-keeping, and to enable digital asset trading at the federal level immediately.
The report also acknowledges the significant potential of integrating DeFi technology—namely, the fast, automated platforms used for crypto lending—into the mainstream financial system. At the same time, the working group plans to leverage tools like 'safe harbor provisions' and 'regulatory sandboxes' to allow innovative financial products to reach consumers without cumbersome approvals.
In the banking sector, the Trump administration had previously warned about the so-called 'Constraint Action 2.0' (which effectively restricts cryptocurrency companies from obtaining banking services). Looking ahead, the working group recommends establishing clearer capital rules and increasing transparency for cryptocurrency companies applying for main accounts or banking licenses. Stablecoins are also listed as a core issue in the report and are viewed as 'a crucial tool for strengthening the global position of the dollar.' Earlier this month, Trump signed the GENIUS Act, which establishes a federal framework for stablecoins, and the working group recommends that relevant agencies quickly implement the provisions of the act.
In terms of cryptocurrency taxation, the working group recommends that the Treasury Department and the IRS re-examine previous tax guidelines related to activities such as mining and staking, and issue new guidance on issues such as the Corporate Alternative Minimum Tax (CAMT) and small digital asset transactions, to facilitate everyday payments using cryptocurrency.
