White House Crypto Policy Report Calls for SEC Action and New Legislation
By Hannah Lang, Reuters — July 30, 2025
In a significant development for the U.S. cryptocurrency sector, the White House released a policy report Wednesday underscoring the need for expanded regulatory frameworks and urging the Securities and Exchange Commission (SEC) to adopt new rules specifically tailored for digital assets. The report represents one of the first public outlines of President Donald Trump’s administration stance on crypto regulation following his January executive order that formed a dedicated working group on the matter.
Push for Formal Crypto Regulations and Congressional Action
Ahead of the full report’s release, a White House factsheet called on Congress to advance legislation that would establish a comprehensive regulatory regime for cryptocurrencies. The administration recommended that lawmakers incorporate additional provisions into forthcoming bills, such as permitting crypto trading platforms to hold custody of digital assets and creating specialized disclosure requirements for issuers of crypto securities.
The White House emphasized that a cohesive federal framework would provide greater clarity for the rapidly evolving crypto industry, which has long contended with fragmented and sometimes conflicting regulations.
Urging SEC and CFTC to Utilize Existing Authority
Alongside legislative recommendations, the report encouraged the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to leverage their current authorities to allow digital asset trading at the federal level without delay. This move aims to foster innovation and market growth while reducing regulatory uncertainty.
The working group behind the report includes senior officials such as Treasury Secretary Scott Bessent, SEC Chair Paul Atkins, and Office of Management and Budget Director Russell Vought, reflecting a coordinated government approach to crypto policy.
Background: From Campaign Promises to Policy Implementation
During his 2024 campaign, Trump positioned himself as a "crypto president," actively courting support — and financial backing — from the digital asset industry by pledging to promote adoption and ease regulatory burdens. This stance marks a shift from the previous Biden administration, which took a more stringent regulatory approach, suing major cryptocurrency exchanges, including Coinbase and Binance, for alleged legal violations. Notably, these lawsuits have since been dropped under the Trump-led SEC.
Legislative Context and Market Structure Focus
The report’s timing coincides with legislative momentum: just two weeks ago, the House of Representatives passed the Clarity Act, designed to provide broad guidance for crypto regulation, and parallel bills are being considered in the Senate. Earlier in July, President Trump signed into law a bill introducing federal rules for stablecoins—a key segment of the crypto market.
While the stablecoin legislation was hailed as a major win, the White House emphasized that broader market structure reforms like the Clarity Act should be prioritized next, as these would have far-reaching effects across the industry.
Recommendations for Market Oversight and Innovation
The White House report calls on Congress to grant the CFTC authority over the crypto spot markets and urges recognition of decentralized finance (DeFi) technologies — blockchain-based platforms enabling peer-to-peer transactions without intermediaries.
To support innovation, the report advocates for expanded use of regulatory "safe harbors" and sandboxes, mechanisms designed to allow new financial products to reach consumers expeditiously while managing risks. This includes encouraging the exploration of tokenization, a process converting traditional financial assets such as stocks, bonds, and real estate into blockchain-based digital tokens.
Coinbase, for example, has recently sought SEC approval to offer blockchain-based stock products, though the SEC has not yet publicly responded.
Industry Calls for Regulatory Clarity
For years, crypto companies have argued that existing U.S. securities and commodities laws do not adequately address the unique nature of digital assets, calling instead for tailored legislation to clearly categorize tokens as securities, commodities, or other asset types like stablecoins.
Conflict of Interest Concerns
The administration’s pro-crypto stance has sparked scrutiny over potential conflicts of interest. President Trump’s family has launched cryptocurrency meme coins, and he holds stakes in a crypto platform, World Liberty Financial. The White House has denied any conflicts impacting policy decisions.
Looking Ahead
The White House’s report sets a pro-innovation, industry-friendly tone for forthcoming U.S. crypto policy, highlighting legislative and regulatory steps that could shape the future of digital assets in America. As Capitol Hill debates evolve, the administration’s recommendations could play a pivotal role in defining the country’s crypto regulatory landscape.
Reporting by Hannah Lang in New York; Editing by Pete Schroeder, Matthew Lewis, Rod Nickel, and Nick Zieminski.