Market Structure, Taxes, and Stable Coin Policy Recommendations
);)
The Trump administration stated that it would establish a 'classification method' for cryptocurrencies, clearly distinguishing cryptocurrencies as 'securities' and 'commodities'. The report included recommendations that the Commodity Futures Trading Commission (CFTC) should supervise the spot cryptocurrency market and the Securities and Exchange Commission (SEC) should supervise security tokens.
Paul Atkins, SEC Commissioner, said, "A reasonable regulatory framework will promote U.S. innovation, protect investors, and maintain the competitiveness of capital markets."
The report emphasized that bank regulations should be simplified to enable banks to custody and provide cryptocurrency services. It also distinguished stable coins from central bank digital currencies (CBDCs) and recommended actively encouraging the use of stable coins to maintain the international status of the U.S. dollar.
In terms of taxation, it recommended that Congress establish separate tax regulations reflecting the characteristics of cryptocurrencies such as staking. The report emphasized, "Cryptocurrencies should be defined as a new asset and different tax regulations should be applied compared to existing securities and commodities."
This report is in line with the recent passage of bills in Congress to prevent CBDC monitoring and regulate stable coins. The Trump administration plans to support the growth of the cryptocurrency industry and strengthen the leadership of the U.S. financial market based on this.
Reporter Jung Ha-yeon yomwork8824@blockstreet.co.kr
