In a press briefing call on Wednesday, senior administration figures touted the report as the “most comprehensive product that’s ever been produced in regards to digital assets.” But as Congress debates an ambitious bill to create guardrails around cryptocurrencies and exchanges, and federal agencies deliberate on how to police the sector, the White House’s work is just beginning.
While a major win for the crypto industry, the report leaves still leaves open certain questions, including ones related to the future scope of the federal government’s crypto reserve. In the press call, one official said that the report is focused on a regulatory framework rather than the reserve, and said that more information should be coming soon.
Though the Senate and House of Representatives were able to agree on a stablecoin bill, the looming market structure bill will likely remain more of a challenge. The senior Trump administration officials argued that the House version—the Clarity Act—has received bipartisan support, with the report pointing to the bill as a “guiding star” for market structure.
“They’ve built the proper foundation for getting this home,” the official added.
