The Trump administration is poised to release a long-anticipated report on U.S. crypto policy this Wednesday. Spearheaded by a presidential working group formed earlier this year, the report is expected to provide the clearest picture yet of the administration’s stance on digital assets, tokenization, market legislation, and SEC regulatory frameworks.
The move delivers on President Donald Trump’s campaign promise to become a “crypto president” by reshaping U.S. crypto regulations. The working group, led by Trump aide Bo Hines and including key officials like Treasury Secretary Scott Bessent and SEC Chair Paul Atkins, was tasked with proposing a comprehensive framework to support innovation while ensuring investor protection.
Focus on Tokenization and Market Structure
A central theme of the report is tokenization, the process of turning traditional financial assets such as stocks, bonds, and real estate into digital tokens. According to senior officials, tokenization will be “extensively” covered in a dedicated section on market structure.
With major crypto firms like Coinbase seeking SEC approval to offer blockchain-based stocks, industry leaders are watching closely for signs of regulatory support. The report is expected to call on the SEC to establish a formal framework to enable such offerings, potentially setting the stage for a broader transformation in how assets are traded in the U.S.
Stablecoins and Legislative Push
Earlier this month, Trump signed into law a bill establishing the first federal rules for stablecoins, cryptocurrencies pegged to fiat currencies like the U.S. dollar. The new report is anticipated to build on that momentum, advocating for the swift passage of broader market structure legislation currently under review in Congress.
One such proposal, the Clarity Act, recently passed the House of Representatives and aims to establish clear rules for the crypto industry. A similar version is now being debated in the Senate. The administration’s report will outline desired outcomes from this legislation, reinforcing its goal to provide “clear rules of the road” for the industry.
SEC Framework and Legal Clarity
The report will also address the longstanding confusion over whether crypto assets are classified as securities, commodities, or stablecoins. Industry participants have long argued that existing regulations are ill-suited for crypto and have called for bespoke guidelines.
In line with that, the report is expected to support the creation of an SEC framework that enables blockchain-based offerings of stocks and bonds. While the details remain unclear, insiders suggest the White House will back legislative and regulatory clarity to boost institutional participation and protect consumers.
Conflict of Interest Questions Linger
Despite the forward momentum, the administration’s close alignment with the crypto industry has drawn scrutiny. President Trump’s personal connections including stakes in World Liberty Financial and his family’s involvement in meme coin projects have raised concerns about potential conflicts of interest. The White House, however, has denied any wrongdoing or ethical violations.
The forthcoming report represents the Trump administration’s first formal crypto policy blueprint. If implemented, it could significantly reshape the regulatory landscape in favour of innovation and institutional adoption. As Congress considers sweeping legislation and the SEC evaluates new frameworks, this report may prove pivotal in defining the future of digital finance in the United States.
