The White House just released its full strategy on digital assets, a major roadmap for how the US plans to stay ahead in global finance. It’s a whole-of-government shift covering blockchains, stablecoins, BTC reserve, and crypto tax. Here’s your short breakdown 🧠🧵

The US digital asset policy under Executive Order 14178 sets 5 core principles: - Protect lawful access to public blockchains - Strengthen dollar sovereignty - Ensure fair access to banking - Establish regulatory clarity - Reject CBDCs

One of the biggest problems in US crypto policy has been regulatory confusion, which pushed devs and capital offshore. US blockchain developer share declined from 25% to 18% in 5 years. The turf war between the SEC and CFTC ends, creating a more friendly environment for crypto companies.

The near-term solutions are rolling out: - SEC allows exemptions for token offerings, defines a safe harbor for DeFi, and approves venues for trading non-security tokens - CFTC clarifies commodity rules, allows bundled custody/trading, and accept crypto as collateral

Enterprises can freely access blockchains. Before, enterprises were limited from crypto activities. That led to a widespread debanking wave. Banks can offer crypto custody, manage tokenized assets, and build cross-border payment systems on public blockchains.

Stablecoins are a tool to maintain the USD's reserve currency status in a multipolar world. The GENIUS Act paves the way for more licensed private stablecoin issuers. With $238B in circulation (99% USD-pegged), stablecoins will expand USD's reach with faster payments, better cross-border transfers, stronger position in DeFi.

No CBDC. A CBDC would give the government too much control over personal finances and allow surveillance of transactions. Instead, the White House supports private stablecoins. It's interesting because China is also restarting the development of stablecoins backed by yuan.

There’s also progress on tax clarity and AML regulations. Some notable points on crypto tax: - Deferring staking income until sale - Ending wash sale loopholes - Exempting small staking/airdrop rewards - Standardizing wrapped token tax treatment - Clarifying stablecoin transactions as non-taxable

Last but not least, the Treasury will hold seized BTC Treasury as part of a long-term reserve strategy, not for trading, but as a national asset. Digital assets aren’t being sidelined. They’re a part of the US financial structure

The implementation will be rolled out in 3 phases across 18 months. After years of friction, the US now has a roadmap for how it plans to support the digital economy. Which crypto sectors benefit most?👇

- Stablecoins: especially compliant stablecoins - Registered DeFi protocols: benefit from safe harbor and new regulatory categories - Tokenized RWAs: tokenized assets and deposits become more bank-friendly - Custody providers and compliant exchanges get green lights to scale - Public blockchains: As banks and enterprises can legally build and transact on permissionless chains like Ethereum and L2s, Solana, Avax,...

Details of the report: