Administration of Trump Reveals Cryptocurrency Blueprint, Overlooking Proposal for Bitcoin (BTC) Reservoir
White House Digital Asset Market Report Shuns Trump's Bitcoin Reserve Proposal
The recently released White House report on digital asset markets has garnered attention for its focus on regulatory reforms, but it has overlooked one key proposal — President Donald Trump's US strategic Bitcoin reserve initiative.
The report, published by the Working Group on Digital Asset Markets, has urged Congress and regulatory bodies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to provide more explicit rules on trading, registration, custody, and recordkeeping. It also supports the adoption of stablecoins, particularly USD-backed ones, to reinforce the dollar's dominance in digital finance.
However, the report does not mention any plans for a US strategic Bitcoin reserve, despite President Trump's earlier proposal. Earlier this year, Trump signed an executive order calling for the creation of a Bitcoin stockpile and a broader digital asset reserve. The executive order aimed to hold Bitcoin and other seized digital assets in federal reserve-like stockpiles, marking a new strategy compared to historical auctioning of such assets.
The report does not specify any timeline for the implementation of these recommendations. Treasury Secretary Bessent acknowledged Trump’s earlier efforts in establishing a Working Group on Digital Asset Markets and his crypto-focused executive order but did not state that the Bitcoin reserve was part of the report's recommendations.
The report does endorse tools like regulatory sandboxes and safe harbours for DeFi innovation. It also aims to close longstanding regulatory gaps in the crypto market and recommends treating digital assets as a new class for federal taxation, subject to updated rules on wash sales and alternative minimum tax. The report also suggests granting the Commodity Futures Trading Commission (CFTC) authority over spot markets for non-security digital assets, as per the Digital Asset Market Clarity Act.
The report also takes a hard stance against central bank digital currencies (CBDCs), echoing Trump's support for the "Anti-CBDC Surveillance State Act." It recommends that the CFTC and SEC should use their current powers to implement these rules without waiting for new legislation.
In summary, while the Bitcoin reserve initiative is an executive policy proposal by President Trump, it was excluded from the main 2025 White House digital assets market report, which prioritized regulatory frameworks over asset reserve strategies. The report's focus on regulatory reforms is expected to streamline crypto market oversight and promote innovation in the digital asset space.
- The White House report on digital asset markets advocates for the adoption of stablecoins supported by the dollar, highlighting their role in reinforcing the dominance of the dollar in digital finance.
- The report encourages regulatory bodies to provide clearer rules on trading, registration, custody, and recordkeeping, but it does not include any plans for a US strategic Bitcoin reserve, contrary to President Trump's earlier proposal.
- Endorsing tools like regulatory sandboxes and safe harbors for DeFi innovation, the report aims to close longstanding regulatory gaps in the crypto market and suggests treating digital assets as a new class for federal taxation.
- The report aligns with Trump's stance against central bank digital currencies (CBDCs), reiterating its support for the "Anti-CBDC Surveillance State Act."
- The report implies a focus on fostering innovation in the digital asset space through reformed regulatory frameworks, while it remains unclear about any plans for a federal Bitcoin reserve, as proposed by President Trump.
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