WHITE HOUSE'S WORKING GROUP RELEASES CRYPTO REPORT

Summary from the TLDR Crypto newsletter

The White House's President's Working Group on Digital Asset Markets published a 168‑page report endorsing digital assets' potential and proposing a “regulatory Bible” for crypto, covering banking, stablecoins, taxes, illicit finance, and a strategic digital asset stockpile. It urges Congress to affirm self‑custody rights, grant the CFTC oversight of spot non‑security tokens, and direct the Treasury to manage a forfeiture‑funded crypto reserve (including BTC, XRP, SOL, and ADA) without taxpayer cost. The report recommends federal tax guidance tailored to digital‑asset nuances, safe‑harbors for DeFi protocols, and a “fit‑for‑purpose” SEC exemption for token distributions.