Trump White House Digital Assets Report Outlines Crypto Oversight Reform
The July 30 report from the Working Group on Digital Assets outlines a framework for shared SEC-CFTC oversight, improved banking rules, and specialized crypto tax guidance.
The White House released its digital assets report, recommending a defined “taxonomy” of tokens, joint SEC-CFTC jurisdiction, streamlined bank charters for crypto custody, congressional action on stablecoin legislation, and customized tax treatment for cryptocurrencies.
President Donald Trump's Working Group on Digital Assets published the policy recommendations on July 30, 2025, in Washington, D.C. The report aims to establish a U.S. regulatory framework that fosters innovation, protects investors, and strengthens the dollar's global position.
The report's first recommendation establishes a “taxonomy” that clearly defines which cryptocurrencies are securities under the U.S. Securities and Exchange Commission (SEC) and which are commodities under the Commodity Futures Trading Commission (CFTC). It calls for shared jurisdictional oversight, with the CFTC governing spot commodity tokens and the SEC overseeing tokens classified as securities.
A rational regulatory framework for digital assets is the best way to catalyze American innovation, protect investors from fraud, and keep our capital markets the envy of the world,
said SEC Chair Paul Atkins, responding to a report.
On banking regulations, the report urges easing requirements for banks to custody crypto and proposes transparent criteria for obtaining bank charters. It recommends integrating digital asset services into traditional banking operations.
The report highlights the role of dollar-pegged tokens in maintaining U.S. currency dominance globally. It recommends Congress pass the CBDC Anti-Surveillance State Act to prohibit a central bank digital currency in the United States.
The document addresses regulatory uncertainty that has affected cryptocurrency businesses operating in the country. Several recommendations require congressional action to implement new legislation.
A unique feature of stablecoins is that stablecoin issuers can coordinate with law enforcement to freeze and seize assets to counter illicit use,
it reads.
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