White House Bets Big on DeFi: A Game-Changer for U.S. Digital Asset Dominance
The White House just placed its chips on decentralized finance—and Wall Street's legacy players might want to check their rearview mirrors.
DeFi Goes Mainstream
In a move that sent crypto Twitter into overdrive, the Biden administration unveiled plans to integrate DeFi protocols into America's digital asset strategy. No more vague promises about 'exploring blockchain'—this is full-throttle adoption.
Wall Street's Cold Sweat
Traditional finance giants now face their ultimate disruptor: a government-backed alternative to their fee-heavy gatekeeping. The irony? Banks spent millions lobbying against crypto—only to watch D.C. outflank them with smart contracts.
The Regulatory Tightrope
Expect fireworks as regulators attempt to square DeFi's permissionless ethos with Washington's love of oversight. One Treasury official quipped (off the record): 'We're about to teach anarchists how to file Form 1099.'
Bottom Line: While suits scramble to 'blockchain-wash' their PowerPoints, the real innovation just got a presidential seal of approval. Just don't expect your banker to smile about it.
$3,776. The United States aims to initiate a “Golden Age of Crypto.”
White House Crypto Report
The White House, through its note on the “Digital Asset Markets Working Group” report, implies enabling cryptocurrency trading at a federal level, utilizing DeFi. However, this note lacks details on Bitcoin
$117,781 and other cryptocurrencies regarding stock and reserves, which might be addressed when the full report releases tonight.
The summarized recommendations suggest that the SEC and CFTC need to fill regulatory gaps by providing clarity on registration, custody, trading, and record-keeping. This would facilitate trading at a federal level. crypto Traders Are Rushing to This App – Here’s Why You Should Too
The working group requests comprehensive and clear capital rules for the future and seeks to pave the way for crypto companies regarding Core accounts and bank licensing. Given the lessons from Operation Choke Point 2.0, the call is for radical solutions to prevent its recurrence.
Stablecoins are viewed as a “supportive” element for the U.S. dollar, earning praise for the GENIUS Act. Rapid implementation is desired to bolster the dollar. The continuous demand for both the dollar’s global liquidity and U.S. treasury bonds favors America significantly.
Taxation of cryptocurrencies is a significant topic, with calls for the Treasury and IRS to reassess tax policies on activities like staking and mining. There may be considerations for alternative minimum taxes and certain exceptions.
“By implementing these recommendations, policymakers can help the U.S. lead the blockchain revolution and initiate the Golden Age of Crypto,” states the Crypto Report.
The forthcoming complete report will provide a detailed summary of the TRUMP administration’s crypto strategy.
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