**U.S. Unveils Digital Asset Strategy to Secure Global Leadership**
The White House has released a detailed report outlining a national strategy to solidify the United States' position as a global leader in blockchain, cryptocurrency markets, and tokenized finance. While the report broadly addresses digital asset policies, it offers no significant updates on plans for Bitcoin reserves, instead reiterating previous statements from President Donald Trump’s January executive order without specifying next steps or timelines.
The strategy stems from an executive order signed by President Trump earlier this year, which established an interagency task force focused on emerging technologies, including digital assets and artificial intelligence. The 166-page document, led by David Sacks, the White House’s head of cryptocurrency and AI affairs, and Executive Director Bo Hines, incorporates insights from the Treasury Department, Commerce Department, the SEC, and the CFTC. It proposes measures to streamline regulation, foster innovation, and modernize oversight.
Key recommendations include:
- **Regulatory Clarity:** Congress should expand the CFTC’s authority to oversee the spot market for non-security digital assets while supporting the growth of decentralized finance (DeFi) technologies.
- **SEC & CFTC Action:** Both agencies should leverage existing powers to clarify rules for digital asset trading and encourage innovative financial products.
- **Banking Sector Innovation:** Regulatory bodies should promote digital asset-related advancements in banking, establish a federal framework for stablecoins, and reinforce anti-money laundering (AML) measures to safeguard national security.
The report underscores the importance of legislative and regulatory innovation to maintain U.S. leadership in digital assets and blockchain technology, ensuring competitiveness in the evolving global financial landscape.