Summary
The White House is calling on the government to quickly make changes to support the growth of the cryptocurrency industry. A new report outlines areas for improvement, like banking and taxes, to make the U.S. a leader in digital assets. The report also emphasizes the need for clear rules and swift action to enable growth in the crypto market.
Key Facts
- The White House released a 160-page report with recommendations on cryptocurrency regulations.
- The report is the result of a six-month review of U.S. cryptocurrency policy.
- It aims to make the American digital asset market the largest and most accessible in the world.
- The report focuses on areas like securities, commodities, banking, taxes, and cybersecurity.
- It asks for quick action from the SEC and CFTC to regulate crypto markets.
- Banking regulators are urged to clarify permissible activities for financial institutions regarding digital assets.
- There are recommendations for updating tax rules to better accommodate blockchain and digital assets.
- The report calls for swift action by government agencies to help the crypto industry grow.
