White House report outlines bold crypto reform plans
Industry leaders praised the report as a turning point, though bipartisan support is crucial for its success.
The White House has unveiled a cryptocurrency roadmap to help reshape the US digital asset industry. The report, spanning 160 pages, sets the foundation for realising President Donald Trump’s ambition to make the US a global hub for cryptocurrency innovation.
Compiled by a high-level task force that includes the Treasury and Commerce secretaries and the Attorney General, the document proposes major reforms to existing frameworks. It calls for clearer SEC and CFTC rules, quicker access for innovations, and formal DeFi integration into mainstream finance.
Lawmakers are also urged to modernise anti-money laundering regulations for crypto networks.
Despite being hailed as a landmark move by the crypto community, the report drew criticism for omitting details on Trump’s proposed Bitcoin reserve. Observers view the report as a strong crypto endorsement but say its success hinges on bipartisan support and effective regulation.
Concerns over conflicts of interest have emerged, as Trump and his family are involved in crypto ventures including a memecoin, mining firm, and stablecoin. Ethics groups warn the policy may favour Trump-linked firms, though the White House claims his assets are held in a blind trust.
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