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White House Crypto Working Group Report Due on Regulating Digital Assets Market

By  |  July 30, 2025

A White House working group on the digital assets market was slated to release a report on Wednesday outlining the group’s initial findings and recommendations, Reuters reported. The report “will discuss market structure, taxes, consumer protection, and ‘clear rules of the road’ for crypto,” senior administration officials told the news service.

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    Based on a fact sheet distributed by the group ahead of the full report’s release, many of the group’s recommendations are already in the works. Congress recently passed the GENIUS Act establishing rules for issuing and trading stablecoins, and the House of Representatives recently passed the CLARITY Act providing a regulatory framework for the digital assets market, which is still pending in the Senate.

    The working group is headed by former-Congressman Robert “Bo” Hines, now director of the President’s Council of Advisors on Digital Assets, and Treasury Secretary Scott Bessent, SEC Chair Paul Atkins, and Director of OMB Russell Vought.

    The report will recommend that the SEC and CFTC should “immediately enable trading of digital assets at the federal level by providing clarity to market participants on issues such as registration, custody, trading, and record keeping,” according to the fact sheet.

    Per Reuters, the report will also include extensive discussion of tokenization of financial assets, such as bank deposits, stocks, bonds, funds, and real estate.

    Related: Congress Passes Landmark Crypto Bills, Ushering in New Era of Digital Asset Regulation

    The report is being welcomed by many in the crypto industry. “While there have been regulatory regimes in place that have maybe been piecemeal or have allowed the industry to grow in certain ways, the recommendations that we expect to see in the report will be a good roadmap for how to build out crypto as a continued important part of the economy going forward,” Rebecca Rettig, chief legal officer at crypto firm Jito Labs, told Reuters.

    Not included in the report, according to Coindesk, is any detail on progress on a plan for the federal government to stockpile Bitcoin and other digital currencies.

    In a separate but likely related development, the SEC on Tuesday announced its approval for in-kind creation and redemption of crypto-based exchange traded products (ETPs). Under the previous rule, spot Bitcoin and Ethereum ETPs were limited to creation and redemption on an in-cash basis only. For an investor to redeem their shares in the fund, the fund issuer would need to sell Bitcoin or Ethereum through a market maker and deliver cash to the investor. Under the new rule, investors can swap shares for the underlying cryptocurrency directly.

    “It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” chair Atkins said in a statement. “Today’s approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors.