The long -awaited White House Crypt strategy is out, but it is not likely that the 163 -page report tells the cryptographic industry that you still do not know, even about the federal reserves of Bitcoin, which are still a black box for a sector interested in learning something new.
The report offers the most complete scheme of the cryptographic impulse of President Donald Trump to date, covering all the main and minor political efforts in progress this year. However, for an industry that has been following each of those who does not offer revelations of new initiatives or dedicate itself to a deep explanation of individual policy activities.
Senior administration officials said Wednesday that it is understood as a guide against which government progress can be measured. Until now, progress has been considerable compared to the administration of former President Joe Biden. A new law, the Genius law, already demands regulations to govern American Stablecoin issuers, and even larger legislation to establish rules for the broader cryptographic markets, known in the Chamber as the clarity law, has cleared the House of Representatives and is underway in the Senate.
But in the report, Trump’s previous call for cryptography reserves, one for Bitcoin (BTC) and another for all other digital assets, only made the last page of the report, where the initiative was widely summarized without the details that were not offered before.
One of the officials said that the infrastructure is underway for that project and that there will soon be more information.
Bo Hines, one of Trump’s main cryptographic advisors, had suggested earlier this month that the president’s executive order requested the reservations had required a report on the process, but that the administration did not yet make it public and can choose not to do so. The lack of details had many cryptographic observers who expected the plans to be revealed in the most complete document of this week.
Industry bets are still high in that project, which had initially disappointed many observers by promising a fund built only in organically seized assets by government agencies, but that also hinted at the desire of the administration to find other ways to finance it. Legislators in Congress can also play a role in working in legislation that reinforces the process. Senator Cynthia Lummis has been at the forefront of that with her innovation, technology and competitiveness of impulse through the optimized investment law throughout the country (Bitcoin), but it has not yet moved.
A call to action
Meanwhile, Wednesday’s report could be read by US regulators as a call to action. The group of regulators who agreed to “encourage the federal government to operationalize the promise of President Trump to make the United States the” cryptographic capital of the world “and adopt a pro-initial mentality for digital assets and blockchain technologies,” the report said.
More specifically, its main recommendations suggest that the Bag and Securities Commission (SEC) and the Basic Products Future Commission (CFTC) “should use their existing authorities to allow the negotiation of digital assets at the federal level.” That is an impulse to begin with regulation, even when Congress produces its market structure work, and although the CFTC still lacks a permanent leadership under Trump, the president of the SEC, Paul Atkins, suggested that his agency has the authorities to act he has been exploring.
The report also included a tax section echoing several ideas also promoted by Senator Lummis, president of the Senate Banking Committee on digital assets. A package of tax reviews that included in its legislative effort is intended to reduce the loads of cryptography users, even establishing a minimum value by which a transaction must be subject to considerations of capital gains and a review of when the profits must take into account the cryptographic rewards of practices such as stagnation.
Read more: Why don’t you have a Bitcoin reserve, not?
