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Trump administration’s digital asset task force to submit first major report on cryptocurrency policy on July 22
Odaily News According to Cryptoinamerica, the Trump administrations digital asset task force is stepping up preparations to submit its first major report on cryptocurrency policy by July 22. The report is the result of months of collaboration between task force leaders David Sacks and Bo Hines and senior officials from the Treasury Department, Commerce Department, Securities and Exchange Commission, Commodity Futures Trading Commission and other departments, and is intended to implement the executive order signed by President Trump in January on strengthening the United States leadership in the cryptocurrency field. The report is expected to include regulatory and legislative recommendations, but the specific content is not yet clear.
The original tasks of the working group included developing a federal digital asset framework covering stablecoins (Congress has already started the relevant procedures) and exploring whether to establish a national digital asset reserve (Trump established it in March). Working group member and CFTC Acting Chair Caroline Pham said in a recent speech that the report will become the governments cryptocurrency roadmap and described the current work as productive. White House officials said the report will be released as planned before the July 22 deadline. Although the details of the report have not yet been disclosed, industry insiders speculate that it may include: a strategic Bitcoin reserve financing plan that does not increase the burden on taxpayers, and recommendations to ensure that crypto companies have fair access to institutional banking services such as the Federal Reserve-the Federal Reserve has historically refused to allow crypto companies to directly access its payment system.
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