TechFlow, July 30 — According to CoinDesk, the White House Working Group on Digital Asset Markets will release an important report today, proposing multiple recommendations on digital asset regulation. The report recommends that the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) immediately enable digital asset trading at the federal level and provide market participants with clear guidance on registration, custody, trading, and recordkeeping.
The report covers several key areas: supporting the integration of decentralized finance (DeFi) technology into the mainstream financial system; promoting innovative financial products through regulatory sandboxes; advancing the implementation of the GENIUS stablecoin regulatory framework; and clarifying tax guidelines for cryptocurrency mining and staking activities.
Notably, the report opposes the issuance of a central bank digital currency (CBDC) and recommends enacting legislation to prohibit it. It also includes recommendations on banking services for crypto firms, calling for clear capital rules and greater transparency in access to bank accounts for crypto businesses.
