Here’s a rewritten version of the article,focusing on verifiable facts and a breaking-news lead:
BREAKING: White house Releases Digital Assets report,proposing Key Legislative and regulatory Changes
The White House has unveiled a extensive report on digital assets,outlining a series of proposed legislative and regulatory actions aimed at shaping the future of cryptocurrencies in the United states. The report, released following President Trump’s executive order on digital assets, suggests significant shifts in how thes assets are treated by Congress and federal agencies.
Among the key proposals, the report advocates for Congress to enact legislation that would affirm individuals’ rights to transfer crypto assets without intermediaries and to hold them in self-custody wallets. It also calls for a ban on Central Bank Digital Currencies (CBDCs), protection for software creators developing decentralized transaction systems, and legislation granting the Commodity Futures Trading Commission (CFTC) clear authority to regulate spot markets for non-security digital assets.
The report further recommends that federal banking regulators adopt technology-neutral risk management practices and refrain from discriminating against lawful crypto businesses. It also encourages the implementation of the GENIUS Act and the promotion of US dollar-backed stablecoin development.
In terms of tax policy, the report directs the Treasury Department and the IRS to issue new guidance on adjusted financial statement income, staking, and wrapping/unwrapping transactions. It also proposes regulations for less burdensome reporting for digital asset exchanges and asks Congress to amend tax laws to include digital assets in wash sale rules, securities loans, and other provisions.
The release of the report coincided with a statement from Federal Reserve Chair Jerome powell, who indicated that the fed is maintaining current interest rates and will continue to monitor the potential impact of President Trump’s tariffs on inflation.
Following the report’s release, the price of Bitcoin saw a fluctuation, dropping from a 24-hour high of $118,742 to a low of $115,521. At the time of publishing, BTC was priced at $116,558.
The full text of the new crypto report can be accessed via the provided link.
