Trump’s crypto working group pushes for clearer rules as adoption grows

Key Points

1. Trump’s crypto working group, led by David Sacks, has recommended clearer rules for the SEC and CFTC to facilitate innovative financial products.

2. The GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act were passed or advanced in July, addressing various crypto-related policies.

3. The GENIUS Act was signed into law by Trump on July 18, while the CLARITY and CBDC acts passed the House and await Senate review.

4. Industry experts suggest the GENIUS Act could significantly boost real-world asset tokenization.

5. Major financial institutions like JPMorgan, Citigroup, and Bank of America are exploring crypto-related services, including stablecoins and tokenized investments.