President Donald Trump’s administration is ramping up efforts to provide a clearer regulatory path for digital assets, as the momentum behind crypto adoption accelerates across the United States. A special task force led by the White House has urged key federal agencies to establish streamlined rules that support innovation and remove barriers to growth in the blockchain sector.
The initiative stems from the White House’s Digital Asset Markets Working Group, formed by executive order in January and chaired by entrepreneur and investor David Sacks. The group has made several policy recommendations aimed at guiding the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) toward enabling more robust digital asset trading nationwide.
Core proposals include the clarification of regulations surrounding custody, exchange registration, compliance, and record keeping. The group also emphasized the need to eliminate bureaucratic slowdowns that obstruct the release of new financial tools to the public.
In terms of taxation, the task force recommends that Congress officially classify cryptocurrencies as a distinct asset category, applying adjusted versions of existing tax frameworks typically used for securities and commodities.
Though the task force itself hasn’t drafted any laws, its influence is evident. Its policy input helped shape three major crypto-related bills that passed in July — the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act — each targeting different aspects of the digital economy, from stablecoin regulation to limiting central bank digital currency (CBDC) programs.
President Trump officially signed the GENIUS Act into law on July 18. The other two bills have cleared the House and are set to be reviewed by the Senate once Congress reconvenes after the summer recess.
Industry Reaction Signals Regulatory Turning Point
The administration’s legislative push has been met with optimism across the crypto industry. According to the Atlantic Council, the recent wave of crypto bills could pave the way for increased institutional participation, especially from traditional finance players.
Big names like JPMorgan, Citigroup, and Bank of America are already exploring opportunities in the stablecoin space — a sign that clearer rules are prompting financial giants to move more aggressively into digital assets.
“For everyday Americans, this could mean that your local bank may soon offer stablecoins or even tokenized investment opportunities,” the Atlantic Council noted.
Industry leaders see the GENIUS Act, in particular, as a pivotal moment for tokenization. The bill could significantly lower compliance burdens and open the door to new use cases, such as tokenized real-world assets and digital dollar infrastructure.
Michael Sonnenshein, the former CEO of Grayscale and now president of the tokenization platform Securitize, told The Wall Street Journal that the legislation might help hesitant market players finally make the leap.
“This provides a level of assurance for asset issuers who were previously reluctant to fully embrace the tokenized securities space,” Sonnenshein said.
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