White House to Release Crypto Policy Report on July 31
The White House will release a crypto policy report on July 31, outlining the federal government's position on crypto assets and providing guidelines for lawmakers.
Key Points of the Crypto Policy Report
- Report termed a “regulatory Bible” by Cody Carbone, CEO of The Digital Chamber.
- Expected to shape rules and directives for the next three and a half years.
- Addresses topics like tokenization and aims to establish significant legislation for the digital asset industry.
- Trump’s administration initiated a cryptocurrency working group, excluding the Federal Reserve and FDIC.
- Exclusion linked to accusations of regulatory pressure on banks regarding crypto services.
- Reflects six months of work by the cryptocurrency working group.
- SEC Chairman Paul Atkins has reduced enforcement actions from previous leadership.
Future Initiatives
- Working group plans to create frameworks for blockchain-based stocks and bonds.
- Recent signing of the GENIUS Act requires stablecoin providers to undergo third-party audits of reserves.