Close Menu
Technology Mag

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    The Lenovo IdeaPad 5i 2-in-1 Is a Budget 16-Inch Laptop That Barely Squeaks By

    August 26, 2025

    CRKD’s $99 Peak Design clone is great for handhelds

    August 26, 2025

    Dish gives up on becoming the fourth major wireless carrier

    August 26, 2025
    Facebook X (Twitter) Instagram
    Subscribe
    Technology Mag
    Facebook X (Twitter) Instagram YouTube
    • Home
    • News
    • Business
    • Games
    • Gear
    • Reviews
    • Science
    • Security
    • Trending
    • Press Release
    Technology Mag
    Home » Donald Trump’s New Crypto Bible Is Everything the Industry Ever Wanted
    Business

    Donald Trump’s New Crypto Bible Is Everything the Industry Ever Wanted

    News RoomBy News RoomAugust 1, 20253 Mins Read
    Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email

    The White House has laid out its plan to usher in a “new American Golden Age,” with cryptocurrency at its center.

    In a 160-page report published Wednesday, White House representatives outlined a series of recommendations to federal government officials as they set about building a legal framework and regulatory ruleset for companies handling crypto assets in the US.

    If put into action by lawmakers and regulators, the recommendations would effectively gift the crypto industry—which spent hundreds of millions of dollars influencing 2024 congressional races—practically everything it had been calling for during the Biden administration.

    Among other items, the White House recommends that Congress enact laws that resolve the long-running debate over the classification of crypto assets and embrace the concept of decentralized finance; that financial watchdogs use safe harbors and regulatory sandboxes in the meantime to “allow innovative financial products to reach consumers without bureaucratic delays”; and that regulators allow banks to deal in crypto assets and prevent further alleged discrimination against crypto businesses.

    “Digital assets and blockchain technologies can revolutionize not just America’s financial system but systems of ownership and governance economy-wide,” the report claims. “American entrepreneurs who pioneer new industries using these technologies deserve both clarity on the policies that affect their efforts and praise for the progress they have made.”

    The report—described as a “regulatory bible” by the leader of the Digital Chamber, a crypto trade body—was compiled by the working group established by President Donald Trump shortly after he returned to the White House in January. Its members include White House crypto and AI czar David Sacks, whose VC firm has invested in multiple crypto startups, and commerce secretary Howard Lutnick, who until taking office led the financial institution Cantor Fitzgerald, which services the world’s largest stablecoin provider, Tether.

    Many of the working group’s recommendations are already being put into action. In mid-July, the CLARITY Act, a piece of legislation that would establish a taxonomy for crypto assets and divide regulatory jurisdiction between the Securities and Exchange Commission and Commodity Futures Trading Commission, passed the House of Representatives. The same week, Trump signed a separate, stablecoin-focused bill into law.

    “A few years ago, the crypto guys were not great at playing the lobbying game,” says Charley Cooper, COO at crypto firm Ava Labs and former COO at the CFTC. But in Trump, he says, “the crypto industry saw an ally. Though a late convert to crypto, once he got there, the door was open.”

    The working group report directly echoes claims prominent in crypto circles that the Biden administration sought to crush the industry through a campaign of “regulation by enforcement.” It even borrows terminology—like Operation Chokepoint 2.0—coined by the industry to describe the purported discrimination it allegedly suffered.

    “The Biden Administration’s approach to crypto was marked by regulatory overreach that countered the American tradition of embracing new technologies,” the report claims. “President Trump’s election marked an end to this misstep. It was America’s hard fork—the end of one chain of poor policy decisions in favor of an updated, better approach.”

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
    Previous ArticleGoogle has just two weeks to begin cracking open Android, it admits in emergency filing
    Next Article Verizon is upping its fees again

    Related Posts

    Elon Musk’s xAI Sues Apple and OpenAI Over App Store Rankings

    August 26, 2025

    A Crypto Micronation Is Making Friends at the White House

    August 26, 2025

    The Trump-Intel Deal Is Official

    August 25, 2025

    Astronomer’s New CEO Speaks—Yes, About That

    August 25, 2025

    How to Become a Vibe Coder

    August 25, 2025

    Join Us for WIRED’s “Uncanny Valley” Live

    August 22, 2025
    Our Picks

    CRKD’s $99 Peak Design clone is great for handhelds

    August 26, 2025

    Dish gives up on becoming the fourth major wireless carrier

    August 26, 2025

    Matter Is Finally Ready to Deliver the Smart Home It Promised

    August 26, 2025

    Dyson’s 360 Vis Nav, our favorite robot vacuum for carpets, is half off

    August 26, 2025
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    News

    Google will verify Android developers distributing apps outside the Play store

    By News RoomAugust 26, 2025

    Google is increasing security measures around sideloading apps by removing anonymity for Android developers who…

    US EV Sales Are Booming—for Now

    August 26, 2025

    Hands-on with the Level Lock Pro: sleeker, smarter, still very expensive

    August 26, 2025

    Logitech’s MX Master 4 leaks point to haptic feedback

    August 26, 2025
    Facebook X (Twitter) Instagram Pinterest
    • Privacy Policy
    • Terms of use
    • Advertise
    • Contact
    © 2025 Technology Mag. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.