#WhiteHouseDigitalAssetReport White House Digital Asset Report released on July 30, 2025 by the President’s Working Group on Digital Asset Markets—initiated under Executive Order 14178:
The 160–168 page report, described by officials as the most comprehensive crypto policy document ever, outlines a sweeping federal roadmap for U.S. digital asset regulation. It marks a major push by the Trump administration to establish America as the “crypto capital of the world”
Clarify regulatory authority: Assigns CFTC jurisdiction over spot commodity tokens (like BTC), and SEC jurisdiction over token securities, recommending new laws such as the CLARITY Act to codify this structure
Stablecoin framework: Establishes licenses, reserve backing standards, and access to Fed payment infrastructure for stablecoin issuers
Tax reforms: Proposes applying wash‑sale rules to crypto, adjustments for staking, mining, and improving reporting for smaller transactions
Financial infrastructure modernization: Encourages adoption of blockchain-based trading venues, industry sandboxes, and expanding custody/trading flexibility for regulated entities
Anti‑illicit finance and cybersecurity: Strengthens AML/KYC rules to protect consumers and safeguard national security
Ban on a U.S. CBDC: The report opposes a central bank digital currency, advocating for private stablecoins instead
