A preview of a White House report on digital assets highlights recommendations to enhance regulatory clarity and streamline processes in the crypto market. The report indicates that the Trump administration aims to facilitate digital asset trading at the federal level, particularly focusing on decentralized finance (DeFi) innovations. Coordination between the SEC and CFTC is emphasized to eliminate regulatory gaps and ensure clarity on registration, custody, and trading of digital assets. The working group also advocates for the rapid implementation of a framework for stablecoins, following the recently signed GENIUS Act. Furthermore, it calls for a review of existing tax guidance around cryptocurrency activities, urging the Treasury and IRS to simplify tax implications for crypto transactions. The report positions the U.S. to potentially lead in blockchain innovation and dismisses central bank digital currencies (CBDCs) in favor of USD-pegged stablecoins, aiming to foster an environment conducive to crypto growth.

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