A comprehensive regulatory report on cryptocurrency in the United States recommends establishing a dual oversight framework assigning shared jurisdiction to the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The proposed structure designates the SEC with authority over securities tokens while granting the CFTC regulatory power for commodity tokens and spot markets.
Significant banking reforms are included in the proposal to facilitate crypto custody services and streamline chartering processes for financial institutions handling digital assets. The report further advocates for customized tax policies addressing unique cryptocurrency characteristics such as staking mechanisms, seeking enhanced clarity and equitable taxation treatment.
The document highlights the expanding importance of stablecoins within the financial ecosystem while simultaneously urging Congress to block the development of a central bank digital currency (CBDC). Collectively, these recommendations form a comprehensive blueprint to improve market structure, bolster investor safeguards, and foster seamless integration between cryptocurrency markets and conventional financial systems.