The White House is scheduled to release its inaugural crypto policy report tomorrow. This move is poised to reshape the country’s digital asset landscape. Following the passage of the landmark market structure bills like the CLARITY Act, the White House is setting the stage for a new era in crypto regulation.
White House Crypto Policy Report, Market Structure Overhaul Ahead?
As per Fox Business journalist Eleanor Terrett’s report, the White House will release its first crypto policy document on July 22. As the Senate is reportedly focusing on crypto market structure bills, the potential report is slated to redefine the industry.
Significantly, the forthcoming White House crypto report stems directly from Executive Order 14178, issued on March 9, 2022. Titled “Ensuring Responsible Development of Digital Assets,” this order marked a pivotal shift in the US government’s approach to crypto, transitioning from a reactive to a proactive stance. It aims to unify digital asset policy across government agencies, solidifying US leadership in the global crypto economy.
The timing of this move is particularly significant. The US House’s “Crypto Week” has wrapped up on a promising note, with the passage of pivotal bills like the GENIUS and CLARITY Acts, boosting optimism in the domestic crypto market.
Why This Report is Important?
Meanwhile, the White House Digital Asset Market Working Group is set to further this momentum with its July 22 policy report. The report is expected to outline key regulatory and legislative recommendations, potentially including the creation of a national digital asset reserve and measures to ensure crypto companies have equitable access to banking services. In addition, the crypto policy report and the upcoming market structure bills may include potential ways to tackle crypto crimes and national security risks, examine the role of CBDCs, promote energy-efficient mining practices, etc.
Significantly, the report will prioritize establishing a comprehensive federal framework for digital assets, including stablecoins, focusing on key areas such as market structure, oversight, risk management, and consumer protection. Additionally, it will explore the potential creation and management of a digital asset stockpile, potentially utilizing crypto assets seized through law enforcement actions. The initiative will also involve gathering input from the public and industry experts to inform its recommendations.
On January 2, 2025, the White House released an official note on the government’s focus on crypto. The post stated,
The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership. It is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.
As part of the country’s crypto ambitions, President Trump plans to eliminate capital gains tax on Bitcoin and other crypto payments. As CoinGape reported, the White House recently confirmed Trump’s “de minimis exemption” plans.
What to Expect?
Notably, the White House crypto policy report on July 22 is poised to have far-reaching implications on crypto businesses and digital asset platforms. It represents the US government’s first comprehensive policy framework for digital assets, providing much-needed clarity for crypto businesses and investors.
With the potential compliance changes, businesses could shift their focus, adhering to the new rules. It enables companies to better navigate the regulatory landscape, make informed investment decisions, and develop innovative products and services with greater confidence. While the crypto week focused on regulatory clarity, this endeavor can also help businesses mitigate risks, ensure compliance, and build trust with customers and investors, ultimately fostering a more stable and secure environment for growth and innovation.
Also, the report’s recommendations have the potential to establish lasting precedents for digital asset classification, taxation, and regulation. It can also have sweeping implications for various sectors, including DeFi, NFTs, stablecoins, and beyond.
According to Caroline Pham, the acting Chair of CFTC and task force member, the crypto policy report is a “cryptocurrency roadmap.” She bases her statement on the fact that the report will highlight the efforts of US officials for the country’s crypto lead.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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