#WhiteHouseDigitalAssetReport The White House Digital Asset Report, released on July 30, 2025, outlines the US government's approach to digital asset regulation and policy. Here's what you need to know:
*Key Takeaways:*
- *Unified Federal Framework*: The report calls for a unified federal framework to govern digital asset markets, reducing regulatory fragmentation and uncertainty.
- *Regulatory Clarity*: It urges Congress to clearly define the roles of the SEC and CFTC in regulating digital assets, particularly in classifying them as commodities or securities.
- *Stablecoins and GENIUS Act*: The report emphasizes the importance of stablecoins, especially with the recently enacted GENIUS Act, and recommends swift rulemaking to implement its provisions.
- *Countering Illicit Finance*: It highlights the need to equip law enforcement and regulators with blockchain intelligence tools to combat crypto-enabled financial crimes.
- *Innovation and Growth*: The report supports public-private partnerships to accelerate blockchain infrastructure and tokenized financial markets, promoting innovation and growth ¹ ².
*Recommendations:*
- *Clear Rules for Digital Assets*: Establish clear statutory pathways for asset registration, custody, and trading.
- *Updated Crypto Tax Guidance*: Provide fresh guidance on crypto taxation, including treatment of wrapping transactions, unrealized gains, and de minimis use.
- *Banking and Blockchain Innovation*: Encourage financial institutions to explore tokenized deposits, blockchain-based settlement rails, and stablecoin-backed payment systems.
- *Self-Custody and DeFi*: Affirm the right to self-custody digital assets and recommend granting the CFTC authority over non-security spot markets ² ³.
*Implementation:*
- *Executive Orders*: The report follows President Trump's executive order creating an interagency working group on digital assets and emerging technologies.
- *Legislative Action*: It calls for Congress to pass legislation giving the CFTC clear authority to regulate spot markets for crypto that aren’t considered securitie