Key Insights:

• New federal crypto report urges Congress to expand CFTC authority over digital assets
  
• Stablecoin framework enacted under the GENIUS Act to boost dollar-backed innovation
  
• Strategic crypto reserve to include BTC, ETH, XRP, SOL, and ADA
  

The Trump administration has released a 168-page federal report proposing a unified framework to regulate the digital asset sector. The President’s Working Group on Digital Asset Markets produced the roadmap following an executive order signed earlier this year. The administration aims to make the U.S. a global leader in crypto innovation and financial technology.

The working group recommends that Congress close regulatory gaps by granting the Commodity Futures Trading Commission spot market oversight. They also urge both the CFTC and the SEC to enable digital asset trading through new clarity on custody, registration, and compliance. The White House supports DeFi integration and calls for rapid deployment of safe harbors and sandboxes for innovation.

According to senior officials, this is the most comprehensive federal product on digital assets ever released. The report contains detailed proposals on regulation, banking, taxation, and digital asset stockpiling. “This document will serve as a regulatory Bible,” one industry representative said.

Stablecoin Law Enacted as U.S. Backs Dollar Innovation

President Trump signed the GENIUS Act into law on July 18, creating the first federal framework for stablecoins. The act mandates stablecoins be fully backed by dollars or equivalent liquid reserves. Officials expect the law to modernize payments and help phase out outdated banking infrastructure.

The report urges swift implementation of the GENIUS Act by Treasury and banking regulators. Additionally, it calls on Congress to pass the Anti-CBDC Surveillance State Act to ensure privacy and block central bank digital currencies. The administration strongly supports a decentralized, private alternative to state-controlled digital money.

The Treasury Department will manage the newly proposed U.S. crypto reserve. This strategic reserve will include Bitcoin, Ethereum, XRP, Solana, and ADA, funded only through forfeited assets. Reporter Hannah Lang confirmed the reserve aims to support economic resilience and national interests without burdening taxpayers.

Crypto Tax Reforms and Banking Clarity Proposed

The report also addresses crypto-related tax confusion by urging new IRS guidance on staking, mining, and transaction thresholds. It proposes modified taxation rules for digital assets and inclusion under wash sale regulations. Moreover, the administration encourages fair capital rules and streamlined bank approvals for digital asset services.

Rebecca Rettig, legal officer at Jito Labs, emphasized the regulatory clarity would help crypto become a permanent part of the U.S. economy. Trump’s crypto-friendly approach starkly contrasts with previous crackdowns under the Biden administration. With bipartisan support growing, officials believe the coming months will be pivotal.