The White House Digital Asset Markets Group released its first report outlining proposals to address regulatory uncertainty in U.S. digital asset markets. Contrary to expectations, it contains no details on a U.S. crypto reserve and instead focuses on clarifying CFTC and SEC roles, registration requirements, custody and reporting.

Recommendations include passing the Digital Asset Market Clarity Act to assign CFTC oversight of non-security spot markets, speeding up product approvals, defining permissible blockchain banking and stablecoin operations, and establishing digital assets as a distinct tax category.

source: BE[IN]CRYPTO

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