The White House unleashed a bold crypto strategy demanding immediate congressional action, with Ripple’s legal chief calling it a breakthrough blueprint from the “most pro-crypto Administration we’ve ever seen!”
Ripple Legal Chief: Most Pro-Crypto Admin Delivers the Regulatory Signal Investors Need
The White House released a 160-page report on July 30, through the President’s Working Group on Digital Asset Markets, following Executive Order 14178 signed by President Donald Trump. The report presents a comprehensive national strategy to expand the United States’ leadership in digital financial technologies while firmly opposing the implementation of a central bank digital currency (CBDC). It calls on Congress to pass legislation supporting self-custody of digital assets, regulatory clarity for decentralized finance (DeFi), statutory authority for the Commodity Futures Trading Commission (CFTC) over spot markets, and promotion of lawful dollar-backed stablecoins. The working group asserts that CBDCs pose a threat to financial privacy, economic freedom, and U.S. sovereignty.
Ripple’s chief legal officer Stuart Alderoty praised the report on social media platform X, stating: “Comprehensive, helpful and direct – the White House’s Digital Assets Report released this afternoon pushes Congress and US federal agencies to act immediately following the passing of the GENIUS Act.” He continued: “From callouts in support of the CLARITY Act and to establish crypto market structure rules, to strengthening consumer protections and enhancing national security measures, there’s a lot in this 160-page report that provides a blueprint for action.” The Ripple legal chief concluded:
The most pro-crypto Administration we’ve ever seen!
His endorsement reflects growing sentiment among industry leaders who view the administration’s policies as reversing what they characterize as regulatory overreach under prior leadership.
The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), enacted this month, establishes a federal regulatory framework for stablecoins, requiring 1:1 backing with liquid assets, monthly audits, and limiting issuance to licensed institutions. It aims to boost consumer protection and financial stability. The Digital Asset Market Clarity Act of 2025 (CLARITY Act), also advancing, seeks to define whether cryptocurrencies are commodities or securities, providing regulatory certainty for the broader digital asset market and delineating oversight between the CFTC and U.S. Securities and Exchange Commission (SEC).
Chaired by White House AI and Crypto Czar David Sacks, the President’s Working Group includes senior officials from the U.S. Treasury, the SEC, the CFTC, and other federal bodies. The report sharply criticizes Biden-era actions such as “Operation Choke Point 2.0,” which it claims led to the systemic debanking of lawful crypto firms. While critics of the administration’s anti-CBDC stance warn of missed opportunities in digital public infrastructure, supporters counter that the White House is restoring innovation incentives and prioritizing privacy by empowering private-sector blockchain solutions.
