US Crypto Report Suggests Possible Regulatory Framework for Bitcoin Oversight and Stablecoin Policies

Key Points

1. The report recommends shared jurisdiction between the SEC and CFTC, with the SEC overseeing securities tokens and the CFTC handling commodity tokens and spot markets.

2. Banking reforms are proposed to enable crypto custody services and streamline chartering processes for financial institutions dealing with digital assets.

3. Custom tax policies are suggested to address unique crypto features like staking, aiming for clarity and fairness in taxation.

4. The report emphasizes the growing role of stablecoins in the financial ecosystem while urging Congress to prohibit CBDC development.

5. The proposed regulatory framework aims to enhance market structure, investor protection, and integration of crypto with traditional finance.