The White House, led by Donald Trump’s administration, released its new crypto strategy report on July 30, 2025, with a focus on digital assets, providing clear rules for crypto markets.
Notably, it did not mention the creation of a Strategic Bitcoin Reserve, which Trump had signed earlier this year. Instead, it focused on the need for clear rules to help crypto grow in the U.S.
The Digital Asset Working Group behind the report asked agencies like the SEC and CFTC to move fast. They want simple and clear rules for crypto trading, keeping track of assets, and how companies handle crypto safely. These rules are designed to fill in gaps and help the U.S. lead the blockchain revolution. The report urged Congress to pass the CLARITY Act, which would give the CFTC more control over certain crypto markets.
Delays in approving crypto products are also a concern. The report asks regulators to speed up processes so that new crypto offerings can reach customers faster. It points out the SEC’s 240-day window for deciding on crypto ETFs as an example of slow approval. The group also supports decentralized finance (DeFi) innovation and stablecoin adoption, calling them key parts of the future digital economy.
Banking rules were also addressed. The report wants banking regulators to clarify what activities banks can perform with stablecoins and blockchain technology. This is important as crypto companies like Ripple and Circle seek national bank licenses. Federal agencies such as the Federal Reserve and FDIC have confirmed that existing banking rules apply to crypto custody.
Furthermore, the report also talked about taxation, suggesting that digital assets are to be treated as a new asset class with special tax rules. It recommends changes to wash sale rules and tax treatment for mining and staking activities.
Interestingly, the report firmly opposes central bank digital currencies (CBDCs). It supports Trump’s call for the “Anti-CBDC Surveillance State Act” to ban them, citing privacy concerns.
Although Trump’s earlier executive order demanded a Bitcoin reserve, the report did not include this plan. The focus remained on regulations and laws to help crypto thrive in the U.S.
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