White House Digital Asset Report Supports Crypto Innovation
#白宫数字资产报告
On July 30, 2025, the White House released the report titled 'Strengthening America's Leadership in Digital Financial Technology'. This 166-page report systematically outlines the national strategic goals for U.S. digital assets, comparing cryptocurrencies to railroads and the internet, and emphasizes that the U.S. should adopt a mindset that supports innovation in dealing with digital assets. The aim is to establish the U.S. as a global leader in related fields by promoting the development of blockchain, stablecoins, digital asset trading, and financial technology infrastructure. The specific content is as follows:
In terms of regulatory framework: It is recommended to establish a unified, technology-neutral classification and regulatory system for digital assets, clearly granting the U.S. Commodity Futures Trading Commission (CFTC) regulatory authority over non-securities digital asset spot markets, and promoting the integration of decentralized finance (DeFi) with the mainstream financial system. It also proposes to legislate clear compliance responsibilities for DeFi platforms and protocols, emphasizing that regulation should be based on actual 'control' actions, rather than simply defining it as 'money services business' due to the development or provision of software.
In terms of banking and payment systems: It opposes the 'Operation Chokepoint 2.0' policy during the Biden administration, advocating that the banking industry should treat cryptocurrency companies fairly and not refuse service based on industry attributes. It fully promotes the global application of dollar-denominated stablecoins, recommending the full implementation of the 'GENIUS Act', supporting the private sector in issuing compliant stablecoins, and encouraging the digitization of cross-border payments.
In terms of technology: It encourages continuous innovation in open blockchain networks and developer communities, emphasizing the need to ensure citizens' rights to use digital assets, self-custody private keys, and freely participate in blockchain verification and transactions.
In terms of anti-money laundering and taxation: It advocates for strengthening information sharing between law enforcement agencies and the industry, while avoiding harm to law-abiding users. In terms of taxation, it proposes updating tax law interpretations related to staking, bundling, NFTs, etc., and suggests including digital assets within the scope of 'wash sale rules'.