President Trump’s Crypto Report

President Donald Trump’s crypto working group finally issued its massive report containing U.S. policy recommendations. Two key figures spoke to CoinDesk about decentralized finance (DeFi) protocols’ role in the administration’s vision for the U.S. sector.

Key Statements

Bo Hines, executive director of the working group, stated that “Decentralized protocols can definitely meet the rules of the road.” He emphasized the importance of providing clear regulations to enable innovation in the U.S.

“We want people innovating and developing here in the U.S.,” Hines noted during a CoinDesk TV interview. He mentioned that the Treasury Department’s removal of Tornado Cash sanctions illustrates their understanding of the significance of immutable smart contracts in open-source code.

Tyler Williams from the Treasury added that the recently passed Digital Asset Market Clarity Act improves industry compliance with the Bank Secrecy Act. The report reviews previous legislative efforts, marking progress in Trump’s aggressive crypto agenda, according to industry insiders.

Hines described the report as “probably the most comprehensive piece of work on digital assets ever produced,” showcasing familiar policy initiatives with added details on action items.

Missing Elements

However, the report lacked information on the administration’s proposed Bitcoin Strategic Reserve. Hines promised that future developments would please the public, while also highlighting ongoing infrastructure efforts by the Treasury to ensure a proper setup for moving forward.

Industry Engagement

The report’s launch event at the White House was attended by industry representatives and senior administration officials, demonstrating collaborative efforts to shape the future of crypto policy. Cody Carbone, CEO of the Digital Chamber, noted the administration’s gratitude for industry contributions to the report.

Read More: No U.S. Bitcoin Reserve Plans as White House Touts Crypto Report