President Donald Trump’s cryptographic working group finally issued his mass report and his pages of American policy recommendations, and two of the people behind that effort told Coindesk that the decentralized finance protocols (Defi) should go well in the vision of the administration of the US sector.
“Decentralized protocols can definitely comply with the road rules,” said Bo Hines, executive director of the group of regulators and senior administration officials who collectively issued the 163 pages report on Wednesday. In a television interview by Coindesk with Jennifer Sanasie, Hines and Tyler Williams of the Treasury Department shared some of the most prominent aspects of the long report, including their defi treatment.
“We want people to innovate and develop here in the United States,” said Hines from the White House, and that requires developers to “feel the rules of the road established for them.”
Hines said the administration has tried to take “immense measures to do that and offer guidance.” He said that the treasure elimination of tornado cash sanctions should show “we understand how important are immutable intelligent contracts in the open source code.”
Williams added that the Law of Clarity of the Digital Assets Market recently approved by the House of Representatives, has already advanced to ensure that the industry has a way to comply with the Banking Secretation Law. He said that this week’s report deepens some of the land already covered by legislators.
The report was adopted by industry experts as another step forward in Trump’s aggressive cryptographic agenda, and Hines called it “probably the most complete work in digital assets ever produced, and I don’t think that should be lost in anyone.”
Virtually all policy initiatives and efforts described in their pages are already relatives for the dozens of cryptographic lobbyists who work in the first line in Washington, so it did not bring any surprise initiative.
“While many of the policy elements that you will see are not unknown to the audience and for the public, I think we put a little more meat in the bones in terms of the elements of action we want to see,” said Williams.
A detail that disappeared in the report was a description of the next steps for the so -called Bitcoin strategic reserve contemplated by the Administration, based on a Trump order that said reservation must be initiated.
Hines, who has asked similar questions about the reservation for months without offering a significant update, said: “People will be very satisfied with what occurred to us.”
“There is also a piece of infrastructure of this, and the treasure works diligently in that, making sure that everything is configured correctly, so that we can advance in the best possible way.”
At the launch of the White House Wednesday report, the Administration invited the industry representatives to share the moment.
Cody Carbone, CEO of the digital camera that presses in Washington about the cryptography policy, said that some 40 people attended together with senior administration officials, including Treasury Secretary Scott Besent, Crypto Czar David David Sacks, the president of the Bag and Securities Commission, Paul Atkins and the Attorney General PAM Bondi. Carbone said in a memorandum about the event that officials were “friendly by thanking the voices and experts of the industry that helped contribute to this comprehensive report,” he said he included several of his organization.
Read more: There are no US Bitcoins Reserve Plans. Like the White House Touts Crypto Report
