The US government releases a digital asset policy report, providing a blueprint for encryption regulation.

Recently, the U.S. government released a detailed policy report on digital assets. This 166-page document is regarded as the "regulatory bible" in the field of cryptocurrency, providing guidance for the future development direction of the industry.

The report presents policy recommendations around five main areas:

1. Position the United States as a leader in the digital asset market
2. Modern Digital Asset Banking Regulation
3. Strengthen the status of the US dollar
4. Combatting illegal financial activities in the digital age
5. Ensure the fairness and predictability of digital asset taxation

In positioning the U.S. as a market leader, the report recommends that Congress empower the Commodity Futures Trading Commission (CFTC) to regulate the spot market for non-securities digital assets, and calls for embracing decentralized finance (DeFi) technologies. At the same time, the Securities and Exchange Commission (SEC) and CFTC should utilize existing powers to initiate digital asset trading at the federal level and provide clear guidance for market participants.

Regarding bank regulation, the report proposes to restart encryption currency innovation work, clarify the scope of banks' activities in areas such as custody and tokenization, and ensure that capital rules align with the actual risks of digital assets.

In strengthening the status of the dollar, the report suggests faithfully implementing relevant legislation and considers codifying the executive order banning U.S. Central Bank digital currency into law to protect citizens' privacy.

The report calls on relevant institutions to clarify anti-money laundering obligations in response to illegal financial activities, while emphasizing the importance of self-custody and protecting citizens' privacy.

In terms of taxation, the report recommends issuing relevant guidelines to alleviate the burden on taxpayers and treating digital assets as a new asset class, with appropriate modifications to existing tax rules.

Industry insiders generally believe that this report is a positive signal for the direction of U.S. encryption policy. However, some viewpoints point out that the report does not propose any new initiatives, and some key issues remain unresolved, such as the future scale of federal government digital asset reserves.

Nonetheless, this report undoubtedly provides important guidance for the regulatory transparency of the U.S. encryption industry. As a U.S. official stated, it lays a solid foundation for the establishment of a future encryption regulatory system. With the gradual implementation of policies, we have reason to expect that the U.S. will continue to maintain its leading position in the digital asset field.