Key Highlights

• David Sacks hints at major upcoming crypto announcements.
• Regulatory agencies, including the SEC and CFTC, are collaborating on unified policies.
• Congressional efforts underway to draft comprehensive crypto legislation.

U.S. Crypto Policy Set for Big Changes

Crypto Czar David Sacks has confirmed that significant announcements regarding U.S. crypto regulations are on the horizon. Regulatory bodies such as the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are working together to establish cohesive policies.

The inter-agency Working Group on Digital Assets has become increasingly active following an executive order signed by President Donald Trump last month. This directive tasked Sacks and his team with exploring the feasibility of Bitcoin as a reserve asset. The working group is coordinating efforts with regulators, signaling a major shift in U.S. crypto policy.

Coordinated Regulatory Efforts Underway

As Washington intensifies its focus on crypto regulation, concerns over overlapping initiatives among policymaking entities have emerged. However, experts in the field emphasize that these groups are working in tandem rather than at cross-purposes. Key developments include:

• Inter-agency collaboration: The SEC’s crypto task force, the CFTC’s pilot program, the Presidential Working Group, and Congress’s Bicameral Working Group for Digital Assets are aligning efforts to create a clear regulatory framework.
• Industry participation: Representatives from the Blockchain Association and the Digital Chamber of Commerce are engaging with regulators on issues like ETF staking and stablecoin regulations. These industry leaders are also set to participate in a CFTC-hosted CEO forum addressing tokenized assets and stablecoin use in the futures market.
• Legislative efforts: Congressional representatives French Hill and Bryan Steil confirmed that their Bicameral Working Group for Digital Assets is closely working with Senate counterparts and the Presidential Working Group to draft crypto legislation.

David Sacks, confirming the developments, stated:

“The inter-agency Working Group on Digital Assets is working well together to implement the President’s agenda. Bo Hines is doing a fantastic job as Executive Director keeping everyone coordinated. Some important announcements are coming soon.”

Trump Administration’s Pro-Crypto Moves

Since taking office, President Trump’s administration has swiftly introduced pro-crypto measures while reversing restrictive policies from the previous government. Notable actions include:

• Repealing the SEC’s controversial SAB 121 rule, which had previously restricted banks from engaging with digital asset firms.
• Updating FDIC guidelines to enable U.S. banks to manage crypto assets and offer tokenized deposits without requiring prior regulatory approval.
• Halting the SEC’s lawsuit against Binance for 60 days, allowing a new task force to reassess crypto regulations. A status report is expected by April 14.

What’s Next?

With regulatory agencies aligning their efforts and industry leaders actively participating, the U.S. crypto landscape is poised for significant transformation. Market participants eagerly await the forthcoming announcements, which could shape the future of crypto regulation and adoption in the United States.

Stay tuned for further updates as the regulatory landscape continues to evolve.