All eyes are on it! The White House is about to release the first policy report on cryptocurrency during the Trump era.

The cryptocurrency working group formed by U.S. President Trump will release a policy report on Wednesday, local time, expected to clarify the government's position on important issues in the digital asset industry such as tokenization, defining the cryptocurrency market through legislation. Shortly after taking office in January this year, Trump ordered the establishment of a cryptocurrency working group tasked with proposing new regulatory measures, fulfilling his promise to comprehensively reform U.S. cryptocurrency policy made during his election campaign. The report being released is a concentrated reflection of the interim achievements of this working group and the first public disclosure of its research findings. According to the executive order issued by Trump in January, the report will detail the regulatory framework needed to achieve the policy goals of the White House in supporting the development of cryptocurrencies. According to a source familiar with the discussions, the report will include ensuring that the U.S. Securities and Exchange Commission (SEC) establishes a framework for companies to issue blockchain-based stocks and bonds. Another source familiar with the report stated that the report will also outline the government's wishlist for legislation currently being discussed in Congress aimed at establishing comprehensive regulatory guidelines for cryptocurrencies. The working group is led by Trump administration official Bo Heins, with members including several government officials such as Treasury Secretary Bennett, SEC Chairman Paul Atkins, and Office of Management and Budget director Russell Watt. The White House, Treasury Department, and SEC did not immediately respond to requests for comment on the report. Rebecca Rettig, Chief Legal Officer of cryptocurrency company Jito Labs, stated, "While there are already some regulatory systems in place, perhaps these systems are somewhat scattered, or in some aspects promote industry development, but we expect the recommendations in the report to serve as a good roadmap on how to make cryptocurrencies a continuing important part of the future economy." During his campaign, Trump sought financial support in the cryptocurrency field by promising to become the "crypto president" and promote the adoption of digital assets. This contrasts sharply with the regulatory actions of the Biden administration- the Biden administration has taken strict actions to protect Americans from fraud and money laundering activities in the industry. The Biden administration has sued dozens of exchanges such as Coinbase (COIN.US) and Binance, accusing them of violating U.S. laws. The SEC under the Trump administration subsequently dismissed these cases. Tokenization, stablecoins, and market structure Industry participants will closely watch the report for its content on tokenization. Tokenization refers to the process of transforming financial assets such as bank deposits, stocks, bonds, funds, and even real estate into crypto assets. Cryptocurrency companies and other stakeholders have been increasingly discussing the possibility of using securitization tokens as a new way to promote trading. Coinbase recently stated that it is seeking approval from the SEC to offer blockchain-based stock trading services in the U.S. The SEC has not publicly commented on this request. According to sources, the report to be released on Wednesday is expected to acknowledge the need for the SEC to establish a framework for tokenization, but the specific wording details are unclear. Another source stated that the report will also clarify the White House's expectations for congressional legislation on the cryptocurrency market structure. Earlier this month, the House of Representatives passed the "Clarity Act" to establish a regulatory framework for cryptocurrencies, and related legislation in the Senate is also progressing. Earlier this month, Trump signed a bill establishing federal rules for stablecoins. Stablecoins are cryptocurrencies pegged to the U.S. dollar. This move was hailed as a major victory for the digital asset industry, with the White House indicating that it hopes Congress will subsequently pass market structure legislation, which will have a broader impact on the industry. For years, the cryptocurrency industry has believed that existing U.S. regulatory provisions are not applicable to cryptocurrencies and has called for new regulations to be established by Congress and regulatory agencies to clarify when crypto tokens are considered securities, commodities, or belong to other categories such as stablecoins. Concerns have been raised about conflicts of interest regarding Trump's support for the cryptocurrency industry, with these concerns sometimes even threatening the progress of congressional legislation on cryptocurrencies. The Trump family has launched the cryptocurrency Meme coin and Trump himself holds shares in the cryptocurrency platform World Liberty Financial. The White House denies any conflicts of interest.