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According to Coindesk, the White House has released a preview of the long-awaited Digital Assets Report.
It was stated that the report initially did not include details about the Bitcoin strategic reserve.
Bitcoin Did Not Take Place!
The 120-page report outlined rules for topics such as stablecoins and token classification, but also mentioned a clear plan for a national Bitcoin (BTC) reserve.
The report by the group, tasked by President Donald Trump to recommend policies on cryptocurrency markets, appeared to urge federal regulators to use their authority to set clearer rules on trading digital assets and facilitate the adoption of new financial products.
“By implementing these recommendations, policymakers can ensure the United States leads the blockchain revolution and ushers in a Golden Age of Crypto,” the White House said in a memorandum on the Digital Asset Markets Working Group’s report.
Stablecoins, seen as “strengthening the role of the US dollar,” are prominent among the proposals. The working group is urging institutions to swiftly implement the GENIUS Act, which established a federal framework for stablecoins, after President Trump signed it into law earlier this month.
The working group also requested that the SEC and CFTC, the major US financial institutions, eliminate ongoing regulatory oversight gaps for the cryptocurrency sector and “immediately enable the federal trading of digital assets by providing clarity to market participants regarding registration, custody, trading, and record keeping.”
The report also highlighted the benefits of integrating DeFi technology, which offers the opportunity to borrow and lend through cryptocurrencies through fast and automatic transactions, into the traditional financial system.
*This is not investment advice.