- The White House’s crypto working group has called for federal regulators to clarify digital asset trading rules.
- Recent policy proposals recommend immediate action from the SEC and CFTC to enable national-level crypto trading.
- Three crypto bills have advanced, with the GENIUS Act already signed into law by President Trump.
- Banks and major financial firms are preparing to offer stablecoin and tokenized asset services.
- Industry experts say the new laws could boost participation in tokenized securities and digital asset markets.
The White House’s Working Group on Digital Asset Markets, led by David Sacks, has recommended that federal agencies clarify rules for trading digital assets. The group, created by executive order in January, released these proposals as part of an effort to make it easier for new financial products to reach U.S. consumers.
The policy suggestions ask the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to “immediately enable the trading of digital assets at the federal level” by setting clear standards for asset custody, trading, registration, and record-keeping. The working group also called for the removal of regulatory delays that slow the rollout of financial innovations. On taxes, the group asked Congress to recognize cryptocurrencies as a new asset class, using adjusted versions of current tax rules for securities or commodities.
The working group has provided important recommendations for federal crypto policy, helping to shape bills addressing digital assets, stablecoins (a type of cryptocurrency pegged to a stable value like the dollar), market structure, and oversight. These ideas have influenced the recent passage of the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. President Donald Trump signed the GENIUS Act into law on July 18, while the other two bills await Senate review.
According to the Atlantic Council, the new legislation is likely to encourage banks and other companies to expand into crypto offerings. JPMorgan, Citigroup, and Bank of America have expressed plans to enter the stablecoin market, allowing banks to offer customers digital dollars and tokenized investment options in the future.
Industry leaders believe the GENIUS Act will remove barriers to the creation of tokenized assets, which are digital representations of real-world items like stocks or bonds. “For any of the asset issuers that have perhaps been on the sidelines or have been hesitant to go full force into the world of tokenized securities, this now offers them a little bit of additional air cover,” said Michael Sonnenshein, former CEO of Grayscale and president of Securitize, to The Wall Street Journal.
Recent advances in legislation, combined with public and private sector interest, may support broader adoption of digital assets across the U.S. More details on the White House proposals available here.
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