‘Our diligence in following these recommendations will determine whether we remain the premier destination for crypto innovation or whether we cede that privilege to someone else,’ says Scott Bessent
A lengthy report put forward by President Donald Trump’s crypto working group is a “blueprint” for the US to become a “crypto superpower,” Treasury Secretary Scott Bessent has said.
Speaking behind closed doors as the 168-page cryptoroadmap was rolled out, Bessent, who was part of the working group, said that since taking office, Trump “has righted the wrongs of his predecessor by fashioning the United States into a crypto superpower.”
He maintained that the next step in advancing the US standing in crypto is to pass legislation needed to establish a regulatory framework for the wider industry.
“Regulatory certainty is essential to cementing our status as the crypto capital of the world. Just as essential is executing on the recommendations from today’s report on crypto regulation,” he said Wednesday at a White House event, according to a copy of his prepared remarks that were put under embargo until Thursday morning.
The report seeks to present the country with the footing it needs to become the global leader in digital asset markets and makes several recommendations to facilitate the Trump goal.
Bessent said the report he helped author “is the grading rubric we will use to measure our success in delivering on the President’s promise to anchor the U.S. as the world’s leader in crypto.”
“The working group report includes over 100 regulatory and legislative actions on a broad range of issues, including countering illicit finance; ensuring fairness and predictability in crypto taxation; reinforcing dollar dominance through stablecoins; and modernizing bank regulations for digital assets,” he said.
“Our diligence in following these recommendations will determine whether we remain the premier destination for crypto innovation or whether we cede that privilege to someone else,” he added.
The Treasury secretary sought to reassure crypto entrepreneurs who assembled at the White House, telling them that “America’s digital asset frontier is open again.”
“Under President Trump, we are exploring new possibilities in decentralized computing and digital payments to unlock the promise of blockchain technology,” he said. “So start your companies here. Launch your protocols here. And hire your workers here. You’ll be glad you did.”
