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163 Pages, No Clarity: U.S. Crypto Report Raises Eyebrows Over Unaddressed Bitcoin Reserve
The White House has just released a 163-page strategy outlining its approach to cryptocurrency policy, leaving the crypto industry in a state of confusion and skepticism. The report’s primary focus is on urging regulators like the SEC to take action even without new laws, but it fails to provide any clarity on what the government plans to do with its own Strategic Bitcoin Reserve.
The recently released crypto report offers little insight into President Donald Trump’s efforts, covering both major and minor policy moves happening this year. Senior officials claim that the report is meant to track the government’s progress, which they insist is already ahead of the Biden era. The new GENIUS Act requires stablecoin regulations, and a broader bill, the Clarity Act, has passed the House and is now moving through the Senate.
However, in the 163 pages, there was no mention of how these digital assets will be managed or utilized. It seems like a major oversight considering Trump’s previous plan to create government reserves of Bitcoin and other digital assets was only briefly mentioned at the very end of the report. This lack of transparency has raised eyebrows within the crypto community.
The report also touches on other policy goals, such as giving the Securities and Exchange Commission (SEC) a clear framework for companies to offer blockchain-based stocks and bonds. Additionally, it covers tax proposals that follow several ideas from Senator Lummis, who leads the Senate subcommittee on digital assets. These ideas include changes aimed at making taxes simpler for crypto users, such as setting a minimum transaction amount before capital gains taxes apply and updating how and when taxes are calculated on rewards earned through staking.
The administration is now pushing for broader legislation to clarify how digital assets are classified and regulated, despite the lack of transparency surrounding its own Bitcoin Reserve. This comes as President Trump recently signed a law regulating stablecoins, a move praised by the crypto industry.
Trump’s ties to crypto, through family-backed coins and a stake in World Liberty Financial, have raised concerns about potential conflict-of-interest issues, which the White House denies.
Source: coinpedia.org
