The White House has released its report on crypto policy, which some industry watchers describe as a “regulatory Bible” for the U.S. crypto sector.

Produced by President Donald Trump’s Working Group on Digital Asset Markets, the report covers 166 pages and addresses a wide range of issues, including market structure, regulatory jurisdiction, stablecoins, and tax policy.

The working group called on the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to work together and quickly clarify rules around custody, trading, registration, and record-keeping for digital assets.

This story is an excerpt from the Unchained Daily newsletter.

A proposed Crypto-Asset Reporting Framework (CARF) would require U.S. residents to pay taxes to the Internal Revenue Service (IRS) when they sell digital assets held in foreign accounts – a move aimed at discouraging U.S. taxpayers from moving their crypto offshore.

The report also outlined White House support for a U.S. Bitcoin Strategic Reserve, without clarifying details on how it would be implemented.

Coinbase Chief Policy Officer Faryar Shirzad called the report a “powerful commitment to make the US the world’s Crypto Capital,” sharing optimism that the CLARITY Act could make its way to the President’s desk by the fall.