Trump Administration Prepares for America’s ‘Golden Age of Crypto’
The Trump administration is advancing a comprehensive framework for cryptocurrency regulation, aiming to establish a federal level for digital asset trading and support decentralized finance (DeFi). Key points include:
- The release of a fact sheet by the President’s Working Group on Digital Asset Markets.
- Legislative initiatives like the GENIUS Act for stablecoins and the Clarity Act for crypto market oversight.
- Recommendations for the SEC and CFTC to clarify regulatory gaps and enable federal trading of digital assets.
- Integration of DeFi technologies into traditional finance with expedited access to innovative financial products.
- Proposals for clearer capital rules for banks serving crypto firms amid concerns over “Operation Choke Point 2.0.”
- Emphasis on USD-pegged stablecoins, contrasting with opposition to central bank digital currencies (CBDCs).
- Suggestions for the Treasury and IRS to revise tax guidance related to crypto activities like mining and staking.
The full report will outline the administration's complete strategy for cryptocurrencies, following Trump's executive order early in his presidency.