#白宫加密报告发布# White House encryption report released

**1. Background and Overview of the Report Release**

On July 30, 2025, the White House officially released a report titled "Strengthening America's Leadership in Digital Financial Technology," which is a significant policy document regarding the field of digital assets. The report spans 166 pages and systematically outlines the national strategic goals for America's digital assets, clearly indicating the direction for policy adjustments. It aims to promote the development of blockchain, stablecoins, digital asset trading, and financial technology infrastructure, positioning the United States as a global leader in these areas.

**2. Core Content of the Report**

1. **Policy Pillars**: The report proposes five major policy pillars, covering various aspects such as market structure, bank participation, payment systems, anti-illegal finance, and tax regulations.
2. **Regulatory Framework**: It is recommended to establish a unified, technology-neutral classification and regulatory system for digital assets, clearly granting the U.S. Commodity Futures Trading Commission (CFTC) regulatory authority over the spot market for non-securities digital assets and promoting the integration of decentralized finance (DeFi) with the mainstream financial system.
3. **Banking and Payment Systems**: Clearly oppose the "Operation Choke Point 2.0" policy during the Biden administration, advocating that the banking industry should treat cryptocurrency companies fairly and not refuse to provide services based on industry attributes. At the same time, the United States will fully promote the global application of dollar-denominated stablecoins, viewing them as a continuation tool of "dollar hegemony" in the digital age.
4. **Technical Aspects**: Encourage continuous innovation of open blockchain networks and developer communities, emphasizing the need to ensure citizens' rights to use digital assets, self-custody private keys, and freely participate in blockchain validation and transactions. At the same time, the report reiterates opposition to the issuance of Central Bank Digital Currencies (CBDC), pointing out that CBDC may infringe on privacy, interfere with markets, and jeopardize the status of the dollar.
5. **Anti-Money Laundering and Taxation**: In terms of anti-money laundering, combating illegal finance, and tax compliance, the report advocates for strengthening information sharing between law enforcement agencies and the industry, but must avoid inadvertently harming compliant users. Regarding taxation, it proposes updating tax law interpretations related to staking, bundling, NFTs, etc., and suggests including digital assets within the scope of the "wash sale rules."

**III. Impact and Significance of the Report**

1. **Market Impact**: The release of the report has had a profound impact on the cryptocurrency market. On one hand, it provides clear policy guidance for the market, helping to stabilize market expectations; on the other hand, the policy recommendations put forward in the report may promote further development and innovation in the cryptocurrency market.
2. **International Influence**: As a significant force in the global financial market, the United States' attitude and policy direction towards encryption has a profound impact on the development of the global cryptocurrency market. The release of this report will further clarify the U.S. policy direction in this field and may trigger a chain reaction globally.
3. **Financial Innovation and Regulatory Balance**: While the report emphasizes financial innovation, it also pays attention to the balance of regulation. By proposing a series of policy recommendations, it aims to establish a regulatory system that is conducive to financial innovation while ensuring financial stability.

**IV. Future Prospects**

With the release of the White House encryption report, the policy framework for digital financial technology in the United States will become clearer. In the future, the U.S. will continue to promote the development and innovation of digital assets such as blockchain and stablecoins, and strengthen cooperation and communication with the international community. At the same time, regulatory agencies will closely monitor market dynamics and risk changes, and take necessary regulatory measures in a timely manner to ensure financial stability and protect consumer rights.