A new White House report released by the President’s Working Group on Digital Asset Markets outlines the Trump administration’s vision for transforming the U.S. into a global leader in cryptocurrency and blockchain innovation.
Formed under Executive Order 14178, the group—comprising senior federal officials—has been tasked with delivering recommendations to shape a clear and supportive regulatory framework for digital financial technologies.
The Working Group recommends further reforms to clarify how banks can safely engage in activities like stablecoin issuance, tokenization, and custody services.
A central theme of the report is the modernization of U.S. financial regulation to support blockchain innovation. The Trump administration claims to have already ended what it refers to as “Operation Choke Point 2.0,” which previously restricted banking access for crypto firms.
Importantly, the report emphasizes that bank capital rules should reflect the actual risk of digital assets—not just their technical architecture—allowing institutions to better serve crypto users without disproportionate regulatory burdens.
It also calls for more transparent pathways for obtaining federal bank charters or Reserve Bank master accounts.
