The White House has officially released a sweeping 160‑page national digital asset strategy, dubbed by insiders as the crypto industry’s “regulatory bible.” Compiled by the Presidential Working Group on Digital Asset Markets, the report lays out a bold plan to position the U.S. as the crypto capital of the world—with a focus on regulatory clarity, DeFi integration, stablecoin rules, token classifications, and durable innovation infrastructure.
But while the document delivers extensive guidance, its omission of promised Strategic Bitcoin Reserve details leaves an important chapter incomplete. Still, for many industry observers, the report marks a foundational shift in Washington’s approach to crypto policy.
Commissioned via Executive Order 14178 in January, the Working Group brought together senior officials from the White House, Treasury, Commerce, SOC, SEC, CFTC, and law enforcement. Chaired by crypto advocate David Sacks and involved figures such as Howard Lutnick, the group delivered a coordinated policy agenda to align regulation with innovation goals.
The report, titled “The Roadmap to a Crypto‑Capital America,” spans legislation, market structure, anti‑fraud measures, taxation, and illicit finance enforcement. White House sources characterize it as “the most comprehensive federal policy guide ever issued on digital assets.”
Here’s a breakdown of the report’s core recommendations:
- Token Classification and Regulatory Jurisdiction: It urges Congress to pass the CLARITY Act, which defines when an asset qualifies as a security or a commodity—and clarifies whether the SEC or the CFTC has oversight, especially over emerging DeFi products.
- Stablecoin Framework: The report calls for implementing the GENIUS Act, which mandates full dollar reserve backing for payment stablecoins and prohibits them from offering interest-like yields.
- Support for DeFi and Tokenization: It recommends regulatory sandboxes and safe-harbors to allow experimental DeFi applications and tokenized securities to operate under controlled environments, reducing bureaucratic delays.
- Bank Integration and Financial Services Evolution: The roadmap encourages regulators to ease barriers so banks and regulated entities can custody crypto, support staking, or issue tokenized securities without facing bias or obstruction.
- Illicit Finance and Cyber Risk: Over 20 pages are dedicated to enhancing tools and collaboration across agencies to combat ransomware, darknet market activity, sanctions evasion, and misuse of anonymity tools like mixers.
- Tax & Reporting Updates: It proposes modernizing tax codes to reflect staking rewards, airdrops, capital events like forks, and other crypto-native activities.
A notable absence in the 160‑page guide: no new detail on the Strategic Bitcoin Reserve promised under Trump’s March executive order. Though the concept remains in the background, the report offers no fresh guidance on its structure, funding source, or deployment strategy. A senior official confirmed that Treasury and Commerce are still developing the framework, with legislation required to codify it.
Why It Matters
- Policy Clarity Boosts Institutional Confidence
Investors and fintech companies have long cited regulatory uncertainty as a barrier. The roadmap provides a much-needed foundation for law‑abiding innovation—with defined roles for legislators and regulators. - A U.S. Attempt to Lead in Crypto Innovation
By directly encouraging DeFi integration, tokenized trading, and smart contract applications, the report represents a shift from enforcement-first policy to innovation-first policy at federal scale. - Alignment with Broader Legislative Trends
The report complements previous initiatives like the GENIUS Act and the CLARITY Act, signaling coordinated momentum in the U.S. legislative pipeline. - Contrast to Previous Administrations
Former regulators, especially under the Biden administration, often relied on enforcement as the primary means to regulate. This new approach favors structured rule‑making and co-regulation.
Industry insiders widely praised the report. Many called it overdue clarity that occasionally echoed longstanding demands from exchanges, protocols, and startup founders.
Yet, critics remain wary. Some watchdog groups argue the document reflects many crypto‑friendly policy wins with little new oversight provisions—and that key omissions (like strategic reserve details) signal political priorities over substance.
Others, including consumer advocates, warn that safe harbors without guardrails risk enabling bad actors and reducing protections for retail investors.
The White House’s 160-page crypto policy report represents a watershed moment in federal digital asset policy. It embraces the potential of blockchain technologies, offers structural clarity for regulators, and positions the U.S. to compete globally in crypto infrastructure and innovation.
At the same time, its omissions—notably on the promised Bitcoin reserve—and lack of enforcement details suggest political and legislative hurdles remain. As regulators and lawmakers begin to move from paper to policy, this document may be looked back on as the moment Washington shifted from caution to collaboration—with crypto.