The report rehashed many of the policy objectives touted by the Trump administration for regulating crypto in the United States.
The US President Donald Trump’s Working Group on Digital Assets released its long-promised crypto report outlining policy recommendations for regulating crypto in the United States, including crypto market structure, jurisdictional oversight, banking regulations, promoting US dollar hegemony through stablecoins and taxation of cryptocurrencies.
Establishing a “taxonomy” of digital assets by clearly defining which cryptocurrencies are securities and which are commodities was the first issue outlined in the report, released on Wednesday.
According to recommendations in the document, jurisdictional oversight over digital assets should be shared between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), with the CFTC having oversight over spot crypto markets.
