The White House’s long -awaited crypto currency strategy report has been published. In the 163 -page comprehensive document, the US government’s main approach to crypto currencies is put forward. Especially Bitcoin 
$117,959.83 The sector, which awaits a new detail about the reserves, could not reach much information about it, contrary to what is thought.
White House Crypto Money Report
The report aims to offer US President Donald Trump administration’s comprehensive approach to crypto currencies by summarizing all the main and secondary policy efforts this year. However, for experts who closely monitor the sector, it is seen that the document does not include a major innovation or a detailed policy statement. It is stated that the general framework presented in the report is prepared as a guide to measure the progress of the government.
According to a senior official, the report aims to be a “basic reference point in the measurement of the government’s progress .. Crypto investors’ application – the reason will surprise you!
The Trump administration’s attempts to crypto take place faster than the previous US President Joe Biden. The new Genius law, which has come into force, is regulating US -based stablecoins.
Clarity Act, a new bill on the general regulation of the crypto market, has passed through the House of Representatives and is currently considered in the Senate. These developments point out that the country rapidly traveled in the legislation on crypto currencies.
Bitcoin reserves and legal changes
In the report, the idea of the creation of two separate crypto asset reserves, one of which is in Bitcoin, which was brought up on the agenda before, was not discussed in detail, contrary to expected. Only on the last page of the report, this initiative was briefly mentioned. More information can be shared in the following process.
Bo Hines, one of Trump’s main crypto consultant, said in a statement on the subject that “the presidential order to establish reserves requested the reporting of the details of the process, but this has not yet been announced to the public”.
Sector representatives think that the reserve fund to be financed by the crypto assets seized by government institutions is below the alleged potential. In addition, the signal was given that management can look for other funding methods.
Some deputies in the Congress are also trying to contribute to the project with the preparations of supporting the process. Senator Cynthia Lummis continues to work on a bill called BITCOIN ACT, which aims to increase the country’s crypto innovation and technology competition. But this law has not yet made progress.
Taxation in crypto currencies
In the report, an indirect call was made to take action to regulatory institutions in the USA. The document is encouraged to adopt an innovative perspective on crypto assets and blockchain technologies by referring to Trump’s word to make America’s crypto center ”.
In addition, although the congress continues its structural regulation steps, it is stated that Paul Atkins, the president of the SEC, can move on based on the current powers.
In the tax section of the report, Senator Lummis’s suggestions for crypto beings are taken into consideration. Accordingly, it is aimed to reduce the difficulties experienced by crypto users. In particular, new regulations are on the agenda to determine the lower limits where crypto transactions will be subject to capital gains and to clarify the stage at which the income obtained in activities such as stinging will be taxed.
The US’s new crypto strategy report does not include certain information in some headings, while dealing extensively in existing developments. Important details such as Bitcoin reserves and funding methods may become clear in the following months. The acceleration of legislation changes and the call for action to regulatory institutions indicate that the US can play a more active role in the field of digital assets in the coming period. Users and industry representatives are waiting for a user -friendly and innovative market structure to form.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
