Trump Report Calls for Clear Crypto Laws and SEC Rules for Digital Assets
Main Idea
The White House has released a comprehensive report on digital assets, advocating for clear crypto laws, modernizing financial infrastructure, and solidifying the U.S. dollar's role in the digital age.
Key Points
1. The report calls for transparent pathways for federal bank charters and Reserve Bank master accounts, ending restrictions on banking access for crypto firms.
2. President Trump signed the GENIUS Act, creating the first federal stablecoin framework and banning the creation of a U.S. CBDC due to privacy concerns.
3. The report recommends updating anti-money laundering (AML) guidance and adding crypto to existing tax frameworks like wash sale rules.
4. The Working Group supports the Anti-CBDC Surveillance State Act to protect privacy and civil liberties.
5. The report aims to align the SEC and CFTC on crypto regulation, providing clarity for issuers and fostering industry growth.
Description
A new White House report released by the President’s Working Group on Digital Asset Markets outlines the Trump administration’s vision for transforming the U.S. into a global leader in cryptocurrency and blockchain innovation. Today the White House is releasing its comprehensive report on digital assets, providing long-awaited regulatory clarity for innovators in a cutting-edge industry. President Trump is delivering on his promise to make the U.S. the crypto capital of the planet. pic.twitter.c...
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