The report covers topics such as the structure of the cryptocurrency market, jurisdictional regulatory authority, banking regulations, maintaining the hegemony of the dollar through stablecoins, and taxation of cryptocurrencies.
He also emphasized the need to first establish a "classification system" for digital assets, clearly defining which cryptocurrencies are securities and which are commodities.
The report said jurisdiction over crypto assets should be shared between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), while physical cryptocurrencies should be governed by the SEC.
He recommended that the CFTC should be responsible for oversight of the cryptocurrency market. He also recommended that the SEC and the CFTC work closely together to oversee the cryptocurrency market, and that tokens classified as commodities should be subject to CFT regulations.
The report states that the SEC should have jurisdiction over tokens classified as securities. The report authors state that "establishing a clear market structure will position the United States as a global leader in the digital asset space."
In response, SEC Chairman Paul Atkins stated, "A reasonable regulatory framework for digital assets is essential to the development of American innovation."
One of the report's key policy recommendations is that banks should be able to store and digitally manage crypto assets.
The working group recommended simplifying the licensing process for banks and making related requirements more transparent and public.
The report also included content on stablecoins and payments, emphasizing the need for active adoption of stablecoins to maintain the hegemony of the US dollar.
As expected, the report also contained opposition to central bank digital currencies (CBDCs), specifically citing concerns about a "surveillance state."
They argued that the CBDC Anti-Surveillance State Act should be passed and that research and development of CBDCs should be banned altogether.
However, the report points out that stablecoins have aspects that make them difficult to distinguish from CBDCs, stating, "One of the unique features of stablecoins is that they are issued
The report concluded by stressing the need for a unique tax policy that reflects the unique characteristics of crypto assets.
In particular, they argue that a tax system that takes into account the special characteristics of digital assets, such as staking, should be established. The report states that "digital assets should be treated as a new asset class, and the same tax system that applies to securities and commodities should be established."
"The U.S. should enact legislation to amend existing tax laws to make them applicable to federal income tax."
2025/07/31 11:03 KST
Copyright(C) BlockchainToday wowkorea.jp 117