Trump's Cryptocurrency Task Force Releases Recommendations for Promoting Development in Digital Finance

The Digital Asset Market Policy Working Group established by President Trump in the United States released a report on Wednesday calling on federal regulatory agencies to use existing powers to establish clearer rules for digital asset trading and simplify the process of promoting new financial products. The White House stated in the briefing, "By implementing these recommendations, policymakers can ensure that the United States leads the blockchain revolution and ushers in the golden age of encryption." The working group was created based on an executive order signed by Trump in January of this year. The report covers various topics in the field of digital assets, including urging Congress to pass the Digital Asset Market Clarity Act to fill regulatory gaps, authorizing the Commodity Futures Trading Commission to regulate the spot market for "non-security digital assets," and supporting the development of decentralized financial technologies.