Trump Administration Prepares for America’s Golden Age of Crypto
A preview of a White House report outlines plans for federal digital asset trading and DeFi integration, emphasizing stablecoins and regulatory clarity.
The Trump administration is set to present a report promoting a "golden age of crypto," advocating for federal-level digital asset trading and embracing decentralized finance (DeFi). The report highlights ongoing legislative efforts like the GENIUS Act for stablecoins and calls for clarity from the SEC and CFTC on crypto regulations. It also emphasizes the importance of USD-pegged stablecoins while opposing central bank digital currencies (CBDCs). Recommendations include reviewing tax guidelines for crypto activities and enhancing transparency for banking services to crypto firms, aiming to position the U.S. as a leader in blockchain innovation.
- DeFi: Decentralized Finance refers to financial services using smart contracts on blockchains, enabling lending, borrowing, and trading without traditional intermediaries.
- GENIUS Act: Legislation aimed at establishing a federal framework for stablecoins, promoting regulatory clarity and oversight in the cryptocurrency market.
- stablecoins: Cryptocurrencies pegged to stable assets like the U.S. dollar, designed to minimize price volatility and facilitate transactions.