Trump’s Crypto Policy Report Omits Key Campaign Promise
The latest White House report on crypto is raising eyebrows.
Missing from the document is any mention of Trump’s long-promised U.S. strategic crypto reserve.
This reserve was a headline item in his 2024 campaign.
But the new factsheet, set for release July 30, takes a different route—focused mainly on regulation and innovation.
Prepared by the Working Group on Digital Asset Markets, the report follows an executive order signed in January.
That order required findings to be delivered within 180 days.
Crypto Regulation Now Takes Center Stage
Instead of spotlighting a national reserve, the report calls for legislative clarity in crypto trading.
It urges Congress to pass the Digital Asset Market Clarity Act.
This law would give the Commodity Futures Trading Commission (CFTC) authority over spot crypto markets.
That includes non-security digital assets such as Bitcoin.
The goal? Kick off what the report calls a “Golden Age of Crypto.”
Strategic Reserve No Longer a Priority?
Many expected the strategic crypto reserve to anchor the report.
It was one of Trump’s key campaign promises to back the digital economy.
But the report doesn’t mention it once.
Instead, the focus has shifted entirely toward boosting regulatory clarity and innovation.
This silence has frustrated some in the crypto community, who saw the reserve as a symbol of national leadership in digital assets.
Expanding Federal Oversight of Crypto Markets
The White House wants agencies to use their existing powers more efficiently.
It recommends streamlining the process of registration, custody, and trading for crypto firms.
This means traders could soon benefit from federal-level clarity.
And exchanges may see fewer obstacles when launching crypto products.
The report also proposes faster product approvals and more practical rules for crypto custody.
Crypto-Friendly Banking and Tax Reform Proposed
The report also explores how crypto intersects with the banking system.
It calls for new frameworks that clarify how banks can issue and manage stablecoins.
It also recommends making it easier for crypto firms to obtain federal bank charters.
This would bring digital finance closer to traditional institutions.
On taxes, the report pushes for updated rules tailored for crypto assets.
That includes closing wash-sale loopholes and standardizing IRS crypto reporting.
CFTC to Play a Bigger Role in Crypto Regulation
The proposed reforms aim to position the CFTC as the primary crypto regulator.
This is a major shift away from the current dual-agency approach with the SEC.
Such a move would simplify oversight of assets like Bitcoin and stablecoins.
It could also speed up the rollout of new crypto offerings in the U.S. market.
Industry insiders view this as a positive development—if Congress follows through.
Final Thoughts: Crypto Strategy Without a Reserve
While the report lays the foundation for a clearer crypto framework, it’s missing something big.
Trump’s signature campaign promise—a national crypto reserve—is nowhere to be found.
Still, the focus on lawmaking, tax reform, and faster product approvals reflects real momentum.
If passed, these measures could reshape America’s crypto landscape.
But for now, the U.S. government’s crypto strategy appears more regulatory than revolutionary.