Trump Administration Releases Comprehensive Crypto Policy Framework

The Trump administration on Wednesday unveiled its most detailed cryptocurrency policy blueprint yet, with a presidential working group calling for sweeping regulatory changes and new legislation to cement America's dominance in digital asset markets.

The report from President Trump's Working Group on Digital Asset Markets provides what officials describe as a roadmap to fulfill Trump's campaign promise of making the United States the "crypto capital of the world." The comprehensive framework addresses everything from market structure to banking regulations and tax policy.

"The Working Group endorses the notion that digital assets and blockchain technologies can revolutionize not just America's financial system, but systems of ownership and governance economy-wide," according to the report's preamble, which frames cryptocurrency development as part of America's innovation legacy alongside railroads and the internet.

Congressional Action Urged

The working group, led by Trump official Bo Hines and including Treasury Secretary Scott Bessent and SEC Chair Paul Atkins, is pushing Congress to build on recent House passage of the Clarity Act with additional provisions. The administration wants lawmakers to grant the Commodity Futures Trading Commission authority over spot markets for non-security digital assets and formally recognize decentralized finance technology's integration potential into mainstream finance.

The report comes two weeks after the House passed the Clarity Act, which would establish broad regulatory guidelines for cryptocurrency. The Senate is considering its own version of the legislation.

The working group also recommends Congress pass the Anti-CBDC Surveillance State Act to codify Trump's executive order banning Central Bank Digital Currencies in the United States, positioning the move as protecting privacy and civil liberties.

Immediate Regulatory Changes Sought

Beyond legislative priorities, the administration is calling for immediate action from federal regulators. The Securities and Exchange Commission and CFTC are urged to use existing authorities to "immediately enable the trading of digital assets at the federal level" by providing clarity on registration, custody, trading, and recordkeeping requirements.

The report advocates for regulatory sandboxes and safe harbors to allow innovative financial products to reach consumers without bureaucratic delays, potentially including tokenization of traditional financial assets like stocks and real estate.

Banking Sector Integration

The administration claims to have already ended what it calls "Operation Choke Point 2.0" - regulatory efforts that allegedly denied banking services to the digital assets industry. The working group now wants banking regulators to clarify permissible activities in cryptocurrency custody, tokenization, and stablecoin issuance while ensuring bank capital rules reflect actual risks rather than simply penalizing blockchain-based assets.

The recommendations build on Trump's signing of the Genius Act on July 18 , which created the first federal regulatory framework for stablecoins - cryptocurrencies pegged to the U.S. dollar.

Tax and Compliance Overhaul

The working group is pushing for significant changes to digital asset taxation, recommending that Treasury and the IRS treat cryptocurrencies as a new asset class subject to modified versions of existing securities or commodities tax rules. The administration also wants guidance on complex issues like mining, staking, and de minimis receipts of digital assets.

For anti-money laundering compliance, the report calls for clarity on Bank Secrecy Act obligations while protecting self-custody rights and preventing authorities from targeting lawful activities of law-abiding citizens.

The comprehensive policy framework represents a stark departure from the Biden administration's approach, which focused on enforcement actions against major exchanges like Coinbase and Binance. Trump's SEC has since dropped those cases.

The working group was established through Trump's Executive Order 14178 shortly after he took office in January, fulfilling a campaign promise to crypto supporters who backed his presidential bid with significant financial contributions.