The White House is set to release a highly anticipated cryptocurrency policy report on Wednesday, laying out the Trump administration’s vision for the future of digital asset regulation in the United States. The report, a product of a working group formed by President Donald Trump earlier this year, will address critical areas such as tokenization, consumer protection, and market structure reform.

The move signals a marked departure from the more enforcement-heavy stance of the previous Biden administration and fulfils Trump’s campaign promise to champion crypto innovation. The working group is led by senior officials including Treasury Secretary Scott Bessent, SEC Chair Paul Atkins, and OMB Director Russell Vought.

Tokenization and Market Structure in Focus

A major theme in the report will be tokenization, the process of converting traditional financial assets like stocks, bonds, and real estate into digital tokens. The report will feature an entire chapter on crypto market structure, with officials emphasising tokenization’s potential to reshape asset trading.

Crypto firms have been lobbying for clearer rules to offer blockchain-based securities. Coinbase, for instance, has requested SEC approval to trade tokenized stocks. While the SEC has not yet responded publicly, the upcoming report is expected to urge the agency to create a dedicated framework for tokenized financial products.

Regulatory Clarity and Legislative Priorities

The report is also set to outline the administration’s desired direction for ongoing legislative efforts in Congress. This includes the Clarity Act, which aims to establish a formal regulatory regime for crypto. A Senate version is currently under debate.

In addition, the report will reiterate the administration’s call for comprehensive market structure legislation, following Trump’s recent signing of a stablecoin regulation bill into law. That legislation, seen as a major win for the crypto industry, defines federal oversight for U.S. dollar-pegged digital assets.

Industry stakeholders hope this next phase of legislation will finally resolve key questions around whether digital assets are classified as securities, commodities, or stablecoins.

A Pro-Crypto Presidency Amid Controversy

President Trump has made no secret of his pro-crypto stance, branding himself a “crypto president” during the 2024 campaign. His administration’s pivot toward industry-friendly policies marks a stark contrast from Biden-era regulators, who pursued high-profile legal actions against exchanges like Coinbase and Binance, cases the Trump SEC has since dismissed.

Despite the favourable policy shift, questions remain about potential conflicts of interest. Trump holds a stake in World Liberty Financial, a crypto platform, and members of his family have launched meme coins. While the White House denies any wrongdoing, these ties have fuelled scrutiny and sparked debate within Congress.

Industry Welcomes Clearer Rules

Crypto firms have long argued that outdated regulations have stifled innovation. Rebecca Rettig, chief legal officer at Jito Labs, welcomed the report’s anticipated recommendations. “While previous frameworks were piecemeal, this report offers a clear roadmap to integrate crypto more meaningfully into the U.S. economy,” she said.

As the industry awaits the full release of the report, all eyes will be on how its proposals influence both Congress and regulatory bodies like the SEC. The findings could set the tone for the U.S. digital asset market for years to come.