President Donald Trump’s crypto-working group ultimately issued a page of its massive report and US policy recommendations, with the two people behind the efforts telling Koindsk that decentralized financial (defi) protocols should work in the vision of the administration in the US sector.
“Decentralized protocols can undoubtedly meet road rules,” said Bo Hines, executive director of the group of regulatory and senior management, who collectively issued a 163-page report on Wednesday. In an interview with Jenn Sanasie on Coindesk TV, Hines and The The The Tyler Williams shared some of the highlights of the lengthy report, including the treatment of Defi.
“We want people to innovate and develop here in America,” Hines said from the White House.
Hines said the administration had “taken immense steps to do so and tried to provide guidance. He said the removal of Tornado Cash Sanctions by the Treasury should show that “understanding how important unchanging smart contracts are in open source code.”
Williams added that the Digital Asset Market Intelligibility Act, recently passed by the House, has already made progress in ensuring that the industry has a path to complying with banking secret laws. He said this week’s report is already digging into some of the ground covered by lawmakers.
The report has embraced industry insiders as another step in Trump’s aggressive crypto agenda, calling Hines “probably the most comprehensive piece of work on digital assets ever produced and should not be lost to anyone.”
In effect, the policy initiatives and initiatives described on that page did not bring about surprising initiatives as they are already familiar with dozens of crypto lobbyists working on the frontlines of Washington.
“Many of the policy items you see aren’t unfamiliar to the audience or the public, but I think we’ve put a little more meat on the bones in terms of the action items we want to see,” Williams said.
One of the details missing from the report was an explanation of the next step in the so-called Bitcoin Strategic Reserve, which the administration is hoping to lay off such stockpiles.
“People will be very pleased with what we come up with,” said Hines, who has been asked similar questions about the reserve for months without providing any significant updates.
“This also has a bit of the infrastructure, and the Treasury is committed to it, making sure everything is set up properly so that we can move forward in the best possible way.”
With the release of the White House’s Wednesday report, the administration invited industry representatives to share the moment.
Cody Carbone, CEO of Digital Chamber, who lobbys in Washington with Crypto Policy, said about 40 people attended alongside senior administration officials, including Secretary to Treasury Department Scott Bessent, Crypto Czar David Sacks, Securities and Exchange Committee Chairman Paul Atkins and Attorney General Pam Bondi. Carbone said officials are “graceful in thanking the industry’s voices and experts who contributed to this comprehensive report.”
Read more: No US Bitcoin Reserve Plan as White House Advertising Crypto Report
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