TLDR
- Trump report backs CFTC crypto rule, urges swift digital asset reforms
- Crypto report seeks clear rules, CFTC lead on non-security digital coins
- Trump team pushes crypto clarity, stablecoin law, and Bitcoin reserve
- SEC told to ease blockchain rules, speed innovation with safe harbors
- Crypto tax overhaul urged: wash rule, corporate guidance, asset category
A federal working group established by former President Donald Trump has released a report calling for major crypto regulatory changes. The document outlines a framework to improve digital asset trading rules and support emerging blockchain technologies. It recommends swift action by federal agencies to ensure the U.S. leads in crypto innovation and adoption.
CFTC to Oversee Non-Security Digital Assets
The report urges Congress to pass the Digital Asset Market Clarity Act to fill gaps in crypto market oversight. It proposes giving the Commodity Futures Trading Commission (CFTC) full authority over spot markets for non-security digital assets. This move would clearly define jurisdiction and reduce uncertainty for digital asset trading.
According to Bloomberg, President Trump’s digital asset working group released a report on July 30 urging regulators to clarify rules on crypto trading, custody, and registration, and to give the CFTC authority over non-security spot markets. A government official said the White…
— Wu Blockchain (@WuBlockchain) July 30, 2025
The recommendations aim to streamline crypto regulation and reinforce consumer protection and market stability. The group also backs a stronger role for the CFTC in coordinating with other federal bodies. As a result, the proposal sets the stage for a clearer division of responsibility between financial regulators.
The working group believes granting the CFTC expanded powers will foster trust in digital asset markets. It wants Congress to codify these changes into law to avoid overlapping jurisdiction.
SEC and Agencies Urged to Remove Regulatory Barriers
The report instructs the Securities and Exchange Commission (SEC) and other regulators to clarify existing rules for digital assets. It emphasizes the need for guidance on registration, custody, recordkeeping, and trading practices. The group wants agencies to use existing authority to unlock new financial products.
The report recommends safe harbors and flexible regulatory tools for blockchain startups to reduce delays. These tools would help innovative platforms reach users faster without navigating complex compliance hurdles..
Agencies are also called to update guidance on permissible bank activities linked to blockchain use and stablecoin handling. They must promote transparency in chartering processes and tailor capital rules to reflect crypto-specific risks. This reflects a push to modernize the banking system in line with digital innovation.
Strategic Bitcoin Reserve and Stablecoin Policy Take Shape
Trump has already signed legislation regulating stablecoins, making them subject to federal oversight for the first time. The law targets U.S. dollar-backed stablecoins and introduces a framework to support their use in financial systems. It represents a foundational shift in the country’s approach to digital currency policy.
The administration is preparing details for a strategic Bitcoin reserve using Bitcoin seized in federal cases. The reserve is expected to hold roughly 198,000 Bitcoin, according to crypto analytics firm Arkham. The Treasury has been instructed to keep and expand this reserve using budget-neutral methods.
The executive order also prevents the sale of seized Bitcoin and tasks agencies with disclosing their holdings. The administration continues to shape the reserve policy to influence both markets and federal holdings
Call for New Digital Asset Tax Rules
The report proposes to include digital assets in the wash sale rule to prevent tax abuse through rapid buybacks. This would close loopholes that currently allow losses to offset taxes unfairly. The group believes this change would align crypto tax rules with those for traditional assets.
The Treasury and IRS must issue clearer guidance on crypto’s role in corporate minimum tax obligations. This step would ensure corporations understand how to report and manage digital asset holdings. The recommendations show a comprehensive push to integrate crypto within the formal tax system.
