Trump administration unveils detailed crypto coverage however shrouds Bitcoin reserve in thriller
President Donald Trump’s administration launched its most detailed digital asset coverage report on Wednesday, outlining a broad regulatory roadmap for crypto however provided no new perception into the federal government’s proposed strategic Bitcoin (BTC) reserve.
The 163-page doc, ready by the President’s Working Group on Digital Asset Markets, consolidates the administration’s place throughout stablecoin regulation, tax reform, and federal market oversight.
Whereas the report affirms a dedication to digital innovation, it stops in need of introducing new initiatives or increasing on earlier bulletins, together with the high-profile plan to construct a federal reserve of Bitcoin and different digital property.
The reserve proposal, initially launched by means of a January govt order, receives solely a passing point out within the last part of the report.
Senior administration officers mentioned work is underway however provided no timeline or additional particulars. Trump adviser Bo Hines beforehand indicated that the federal government might select to not publicly launch the reserve’s growth report regardless of intentions to build up BTC.
The shortage of specifics on the reserve initiative has fueled uncertainty throughout the crypto business, which had hoped for a clearer blueprint. The undertaking had drawn consideration earlier this 12 months when officers instructed it will rely partly on property seized by means of enforcement actions.
Lawmakers, together with Senator Cynthia Lummis (R-Wyo.), have launched laws, such because the BITCOIN Act, to assist strategic accumulation, however these efforts stay stalled in Congress. Past the reserve situation, the report reaffirms assist for the administration’s current legislative priorities.
It highlighted the not too long ago enacted GENIUS Act, which units regulatory requirements for stablecoin issuers, and follows the progress of the Readability Act, an expansive invoice governing crypto market construction, now below Senate consideration after passing the Home.
The report additionally inspired federal regulators, together with the Securities and Trade Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC), to make use of their present authority to facilitate digital asset buying and selling, at the same time as legislative work continues.
A separate part outlines tax reform proposals aimed toward easing the compliance burden for crypto customers. These embrace thresholds that exempt low-value transactions from capital features taxes and updates to how staking rewards are handled for tax functions, insurance policies lengthy championed by Lummis and different digital asset advocates.
Officers described the report as a framework for measuring progress below President Trump’s crypto agenda. Whereas the doc consolidates months of regulatory efforts, it leaves key questions unanswered, significantly round the way forward for federal crypto stockpiles.
