Source: cryptoslate
Translation: Blockchain Knight
The Donald Trump administration released its most detailed digital asset policy report to date on Wednesday, outlining a broad regulatory roadmap for cryptocurrencies, but did not provide new information on the government's proposed strategic Bitcoin reserve plan.
The 163-page document was prepared by the President's Working Group on Digital Asset Markets and consolidates the government's positions on stablecoin regulation, tax reform, and federal market oversight.
While the report promises support for digital innovation, it did not introduce new initiatives or further elaborate on earlier announcements, including the much-anticipated plan to establish a federal reserve for Bitcoin and other digital assets.
The reserve plan, first proposed in an executive order in January, was only briefly mentioned in the final section of the report.
Senior government officials indicated that relevant work is ongoing but did not provide a timeline or additional details. Trump advisor Bo Hines had previously stated that while the government intends to increase its Bitcoin holdings, it may not publicly report on the progress of the reserve plan.
The lack of specific information regarding the reserve plan has raised uncertainty in the crypto industry, which had hoped for a clearer blueprint. Earlier this year, officials indicated that the plan partially relies on assets seized during law enforcement actions, which garnered significant attention at the time.
Lawmakers, including Republican Senator Cynthia Lummis from Wyoming, have proposed bills such as the "Bitcoin Bill" to support strategic accumulation, but these efforts remain stalled in Congress.
Aside from the reserve issue, the report reiterated support for the government's existing legislative priorities.
The report specifically mentioned the recently enacted "GENIUS Act," which sets regulatory standards for stablecoin issuers, while tracking the progress of the "Clarity Act," a comprehensive bill that regulates the structure of the crypto market, which has passed the House and is currently under Senate review.
The report also encourages federal regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to facilitate digital asset trading using their existing authorities while legislative efforts are underway.
A separate chapter in the report outlines tax reform proposals aimed at reducing compliance burdens for cryptocurrency users. These include exemptions from capital gains tax for low-value transactions and updates to the tax treatment of staking rewards, policies long advocated by digital asset supporters like Lummis.
Officials stated that this report serves as a framework for measuring the progress of President Trump's crypto agenda. While the document consolidates months of regulatory achievements, it still leaves key questions unanswered, particularly regarding the future of federal crypto asset reserves.
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