The White House has published a 163-page strategy describing its approach to cryptocurrency policy, but a major detail has been left out: what the government plans to do with its Bitcoin strategic reserve. Although the report pushes regulators and the dry to act even without new laws, it offers little clarity on the way in which the United States will manage its own cryptographic assets.
No new plan or clarity discussed in the Crypto report
The recently published crypto report gives the most detailed look so far on the efforts of President Donald Trump, covering major and minor political movements this year. But for those of the market that have followed these developments closely, it does not introduce any new plan or provides in -depth explanations of specific policies.
High officials have said that the report was to follow the government’s progress, which they say are already ahead of the Biden era. The new law on engineering requires Stablecoin regulations, and a broader bill, the Clarity Act, adopted the Chamber and now goes through the Senate.
Also read: Trump Skips’ new crypto plan mentioning a bitcoin reserve. For what?
Trump’s plan to create Bitcoin government reserves and other digital assets was only briefly mentioned at the very end of the report. What seemed to be a big idea was just slightly summarized, without new information or explanation. This leaves a lot to wonder what the government really plans to do with these digital assets. An official said that the project bases were already underway and promised that more details will be shared soon.
The report also addresses other policy objectives, such as giving the Securities and Exchange Commission a clear framework for companies to offer actions and bonds based on blockchain.
Tax relief of cryptography supported by Lummis Ideas
The report also covers the tax proposals which follow several ideas from Senator Lummis, which directs the Senate subcommittee on digital assets. Its plan includes modifications to simplify taxes for crypto users, such as the definition of a minimum transaction amount before capital gains, taxes apply and update in the way and when taxes are calculated on the rewards earned by stimulation.
The report urges the SEC and the CFTC to start regulating digital asset trading using their current powers, even before the Congress finalizes new rules.
The Bitcoin reserve is now a key interest in the cryptography industry, despite the first plans that are based only on the active assets. The administration can explore other financing options, and the congress may intervene. Senator Cynthia Lummis presented the Bitcoin law, but she has not yet progressed.
President Trump recently signed a law to regulate stablecoins, a decision rented by the cryptographic industry. The White House is now pressure for wider legislation to clarify how digital assets are classified and regulated. While the industry has long called for clearer rules, Trump’s ties with crypto, through family coins and interest in World Liberty Financial, have raised concerns of conflict of interest, which the White House NIE.
