The White House Digital Assets Working Group has released a detailed report outlining key recommendations for building a modern regulatory framework for cryptocurrencies in the United States. The goal: to unlock what officials are calling the “golden era of crypto innovation” in the U.S.
Who’s behind the plan?
The task force includes Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and SEC Chairman Paul Atkins. Together, they aim to shape a regulatory model that balances innovation with investor protection.
Clear Asset Classification and Division of Authority
At the heart of the initiative is a new taxonomy for digital assets. This classification will distinguish between securities and commodity tokens, ensuring clarity across the industry.
Under the proposed structure:
- The SEC will oversee crypto assets classified as securities.
- The CFTC will have authority over spot markets and tokens considered commodities.
This dual-agency model is intended to strengthen America’s position as a global leader in digital finance.
“The goals we’ve outlined are ambitious and necessary to unlock the transformational potential of digital asset technology. We must safeguard financial stability and investors while enabling innovation,” said SEC Chair Paul Atkins.
Stablecoins, Banks, and a Rejection of CBDC
The report calls for easing regulations for banks to:
- Custody cryptocurrencies legally
- Offer related financial services
Stablecoins also take center stage. Authors stress the importance of maintaining U.S. dollar dominance through regulated, trusted stablecoins. Issuers would need to cooperate with law enforcement, particularly regarding asset freezes and seizures.
At the same time, the task force recommends banning the development of a U.S. central bank digital currency (CBDC) — a position that aligns with growing political skepticism about centralized digital currencies.
Crypto Tax Reform
The plan also proposes a separate tax regime for crypto, tailored to its unique features — especially staking rewards and digital asset classifications. If enacted, this could provide long-needed clarity for both investors and regulators.
While the report does not mention creating national Bitcoin reserves, Trump administration crypto advisor Bo Hines confirmed that such infrastructure is in development, with further details forthcoming.
Earlier, on July 18, President Donald Trump signed the GENIUS Act, establishing clear rules for stablecoins pegged to the U.S. dollar. The new White House plan builds on that legislation, marking a broader push to regulate — and embrace — digital assets without undermining American innovation.
If passed and implemented, this plan could be the most consequential move by any major government toward fully integrating crypto into its financial and regulatory systems — a bold step into the next chapter of global digital finance.
Info and photo from: minfin.com.ua