White House working group report: Promote the construction of a digital asset regulatory framework and omit details of Bitcoin's strategic reserves
Internet reports that the White House Digital Asset Market Working Group will release an important report today, making a number of recommendations on digital asset regulation. The report recommends that the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) immediately enable digital asset trading at the federal level and provide clear guidance to market participants on matters such as registration, custody, trading and record-keeping. The report also covers several key areas: supporting the integration of decentralized finance (DeFi) technology into the mainstream financial system; promoting the development of innovative financial products through regulatory sandboxes; promoting the implementation of the GENIUS Act, a regulatory framework for stablecoins; and clarifying tax guidelines for cryptocurrency mining and pledge activities. It is worth noting that the report opposes the issuance of Central Bank Digital Currency (CBDC) and recommends enacting relevant bills to prohibit it. The report also makes recommendations on banking services to crypto companies, requiring the establishment of clear capital rules to improve the transparency of crypto companies 'access to bank accounts. What has not yet been included-at least in the preview of the report-are specific details about the federal government's progress and plans to reserve Bitcoin or other digital assets. Still, for crypto practitioners who have experienced more than a decade of regulatory uncertainty, it is still exciting to see a clear set of rules taking shape in the United States, the world's most important crypto market.
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