A preview of the White House digital asset report has been released, revealing the outlines of Trump's "golden age of cryptocurrency."

PANews reported on July 30th that, according to CoinDesk, a preview of a White House report to be released later today indicates that the Trump administration has a friendly stance toward cryptocurrencies, intending to usher in a "golden age of cryptocurrencies" in the United States, rapidly promoting digital asset trading at the federal level and embracing DeFi. Many of the elements highlighted in this concise summary released by the President's Digital Asset Markets Task Force are already reflected in Trump's broader legislative agenda for cryptocurrencies, such as the GENIUS Act targeting stablecoins and the Clarity Act regulating crypto markets. The summary list of recommendations begins by urging US financial regulators—the SEC and CFTC—to "immediately promote digital asset trading at the federal level by clarifying registration, custody, trading, and recordkeeping for market participants" after closing regulatory gaps in cryptocurrency. The report also recognizes the potential benefits of integrating DeFi technology into mainstream finance. Furthermore, the preview report states plans to "use tools such as safe harbors and regulatory sandboxes to enable innovative financial products to reach consumers without undergoing cumbersome administrative approval processes." The report strongly promotes stablecoins pegged to the US dollar, a stark contrast to the Trump administration's aversion to CBDCs. It further calls for the enactment of the Anti-CBDC Surveillance State Act, which would ban CBDCs in the United States. Regarding cryptocurrency taxation, the task force recommends that the Treasury Department and the IRS review previously issued guidance on the tax treatment of activities such as mining and staking. The report also calls for guidance on the Corporate Alternative Minimum Tax (CAMT) and de minimis income from digital assets, which would significantly simplify the use of cryptocurrency payments. The full report is expected to comprehensively outline the Trump administration's cryptocurrency strategy, mandated since its executive order issued early in his term.

Previously, the White House will release its digital asset report at 2:30 AM on July 31st.

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