The working group at the White House released a brief report outlining a strategy to create a 'golden age' for cryptocurrencies. The document contains recommendations for Congress and regulatory bodies, but it lacks mention of the previously proposed strategic Bitcoin reserve.
New Phase of Regulation
The report is the result of a presidential decree from January. At that time, a special working group on digital assets was created. It included key agencies: the Treasury, the Department of Commerce, #SEC and others.
Their mission is to develop unified rules for the crypto market. Experts believe that these recommendations could form the basis of the entire regulatory framework.
The published document emphasizes that the group supports the Digital Asset Market Clarity Act. The House of Representatives has already approved it. Now it is up to the Senate — the authors urge to unite efforts and bring the initiative to adoption.
Priority — stablecoins
One of the main initiatives that the working group recommends implementing as soon as possible is the introduction of the GENIUS law. Its full title is Guiding and Establishing National Innovation for U.S. Stablecoins. The document has already been signed by the president and proposes the creation of a federal oversight system for stablecoins.
The main requirement is that each obligation must be backed by U.S. dollars or another highly liquid asset. This should put an end to the legal uncertainty that has hindered institutional interest. Clear frameworks will emerge in which issuers can operate.
Taxes on cryptocurrency and the expectation of reporting
The report also touches on the tax aspect. The authors propose adapting current legislation to the specifics of cryptocurrencies. This concerns reducing compliance costs and simplifying reporting for all industry participants — from companies to individual users.
Particular attention is paid to resolving contradictions. Currently, there are gaps in the tax interpretation of digital assets that hinder their legal use in several cases. These gaps create unnecessary risks and barriers.
What was not included in the document
Unexpectedly for many, the report lacks mention of a crypto-reserve. Earlier, Donald Trump proposed creating a strategic reserve of digital assets. He tasked the development of a procurement scheme that would not require additional budget expenditures.
The plan anticipated the use of funds obtained through confiscations, without involving taxpayer money. However, there is no mention of this in the report. The initiative has either been postponed or will be presented in a separate document.
The plan included not only Bitcoin but also other liquid assets — such as Ethereum $ETH , $XRP , Solana $SOL and Cardano. However, this part was left out of the published document.
According to sources, the formation of the reserve will be described in a separate publication. For now, one thing is clear: the state does not plan to acquire assets through open procurement. All receipts must occur exclusively through confiscation procedures.
What’s next?
It is expected that the full report will be published soon. In the meantime, the brief version sets the direction: regulation, stability, taxes, and support for the private sector. The question of strategic crypto assets remains open.
If the idea of a reserve is implemented later, it could become an unprecedented step. For the first time in history, the state will officially recognize cryptocurrencies not only as an object of regulation but also as a strategic asset.
