• The Trump report focuses on crypto regulation but gives no new update on the Strategic Bitcoin Reserve plan.
• White House urges clear crypto rules and faster approvals to support innovation and protect investors.
• The report calls for custom tax rules and better banking guidance to support crypto firms in the US.

The U.S President, Donald Trump has released a long-awaited digital asset policy report. The report outlines recommendations for regulating cryptocurrency in the United States. The Digital Asset Working Group led the effort. It focused on creating a clear structure for digital asset classification and regulatory oversight.

JUST IN: White House officially publishes digital assets report, says they will "develop strategies that could be used to acquire additional bitcoin for the Reserve." 🇺🇸 pic.twitter.com/4oy2FTa0UE

— Bitcoin Magazine (@BitcoinMagazine) July 30, 2025

The group urged Congress to pass the CLARITY Act. The recommendations in the document defined the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The report recommends the CFTC oversee spot markets. It places security tokens under SEC supervision. This shared jurisdiction is meant to close current gaps in enforcement.

Strategic Bitcoin Reserve Lacks Updates

Despite previous expectations, the report did not present new details on the Strategic Bitcoin Reserve. This reserve was ordered by Trump earlier this year. It was expected to include lawfully seized crypto assets held by U.S. agencies.

A White House official confirmed that plans are still underway. However, no timeline or structure was included in the report. The omission has raised questions about the status and scope of the reserve.

Banking and Stablecoin Guidance Urged

The report also addressed banking regulations involving digital assets. It called on banking regulators to clarify how crypto firms can obtain national charters. It urged these agencies to define permissible activities for banks involving blockchain and stablecoins.

The report highlighted the need to balance capital rules with crypto-related risks. This is to be achieved by streamlining the chartering process hence making it faster and more transparent. This matters for firms like Ripple and Circle that seek national banking licenses.

Stablecoins featured prominently in the report. The group emphasized their role in preserving the U.S. dollar’s global influence. They warned against central bank digital currencies and supported a ban on their development. However, they noted stablecoins share many features with CBDCs.

Tax Reforms and Anti-Money Laundering Measures

The Working Group recommended tailored tax rules for digital assets. These would reflect the unique traits of cryptocurrencies. They proposed applying modified versions of existing tax codes used for commodities and securities.

They also called for crypto transactions to follow wash sale rules. The goal is to prevent tax abuse while recognizing digital assets as a new class.

On compliance, the group urged regulators to outline clear anti-money laundering obligations. They also asked for guidance on how crypto firms should follow the Bank Secrecy Act.

Efforts to close gaps in tax and reporting rules form a major part of the recommendations. These aim to provide certainty and prevent misuse.