DeutschAccording to insider information, the Crypto Policy Report is expected to be published today. It is a US policy aimed at promoting cryptocurrencies in the USA. The publication has not yet been released. Nevertheless, first contents reach the public. CoinPro explains what is already known.
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Crypto Policy Report in the USA: What is it?
The crypto scene is awaiting the Crypto Policy Report of the USA. It is a guideline for US policy, in which it is explained how the United States can be helped to achieve international importance as a crypto center.
Specifically, the aim is to spread cryptocurrencies as far as possible in as many areas of life as possible. Representatives of the blockchain industry should have their headquarters in the USA and establish their innovations there first. US President Donald Trump has set this goal. He wants to strengthen his home as a location for state-of-the-art technology and keep jobs in the country.
It was Trump who, in January, decreed the development of the Crypto Policy Report. Its name can be translated into German as “Crypto Policy Report”. The presidential crypto working group of the United States, which reports to crypto czar David Sacks, is responsible for the preparation of the report.
Crypto working group and crypto czar are two new organizations that were also created by Trump. Bo Hines, a member of the working group, announced a few days ago the publication of the report, which is scheduled for today, July 30.
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This is What the Crypto Policy Report Includes
At the time of going to press, the Crypto Policy Report is not yet available to the public. Bloomberg recently reported, however, that it had gained insight into early versions of the report. According to the report, the crypto working group is primarily calling for a relaxation of regulatory work.
Accordingly, cryptocurrencies in the USA should take on a special legal role, which is based on the legal circumstances of securities and commodities, but is not classified into these categories. So far, the supervisory authorities SEC and CFTC have classified cryptocurrencies as securities or commodities at their own discretion – with all the regulatory consequences.
A key demand is the adoption of the Digital Asset Market Clarity Acts. This is a new regulation that has already passed through parts of US legislation. CoinPro recently reported on the bill, which is also known by the nickname CLARITY.
The regulatory authorities SEC and CFTC are called upon to accept innovations in the crypto industry and to provide them with the necessary regulatory leeway, instead of blocking them as before.
In addition, bureaucratic hurdles should be reduced. The supervisory authorities should make room for crypto trading at the federal level, it says. The spread of cryptocurrencies, stablecoins and the broader blockchain technology within commercial banks should also increase.
Because the US government intends to promote the crypto industry as a whole, some growth can be expected in the crypto market. The Crypto Policy Report is therefore unsurprisingly celebrated by the crypto community as a bullish element.
Bloomberg announced that the US government intends to release additional information on the Bitcoin reserve in the near future. This information was provided by an insider, the Gazette explains.
“By implementing the guidelines, policymakers can ensure that the United States leads the blockchain revolution and ushers in the Golden Age of Cryptocurrencies”,” the White House revealed.
