The White House Digital Asset 💰 Report, released by the President's Working Group on Digital Asset Markets established by President Trump’s Executive Order 14178, provides a comprehensive roadmap to strengthen American leadership in digital financial technology and usher in what it calls the "Golden Age of Crypto." The 160+ page report lays out detailed regulatory and legislative recommendations aimed at promoting innovation, consumer protection, and market clarity for digital assets like cryptocurrencies and stablecoins.
Key points of the report include:
✅Calling on Congress to pass legislation to close regulatory gaps, particularly giving the Commodity Futures Trading Commission (CFTC) oversight over spot markets for non-security digital assets and embracing decentralized finance (DeFi) technologies.
✅Urging federal regulators like the Securities and Exchange Commission (SEC) and CFTC to clarify rules on registration, custody, trading, and recordkeeping in digital asset markets, as well as to facilitate innovation by using tools such as regulatory sandboxes and safe harbors.
✅Recommending modernizing banking regulations to enable banks to offer digital asset services like custody, tokenization, and stablecoin issuance with transparent processes and risk-aligned capital standards.
✅Supporting the widespread adoption of dollar-backed stablecoins to modernize payment infrastructure, connected to the recent passage of the Genius Act, the first federal regulatory framework for stablecoins.
✅Pressing for updated anti-money laundering regulations and cooperation between regulators to guard against illicit finance in crypto networks.$ETH $BTC $BNB #WhiteHouseDigitalAssetReport #FOMCMeeting #ETHCorporateReserves #AmericaAIActionPlan
