Mirror Review
August 1, 2025
“Is America finally building a fair, clear system for crypto?”
On July 30, 2025, the U.S. government released a detailed new policy—the white house crypto plan—to support the crypto industry.
The goal? To create clear rules, allow innovation, and protect regular users from unfair treatment or risky platforms.
This new roadmap outlines how federal agencies, banks, and Congress should work together to build a strong, legal foundation for digital assets—like Bitcoin, Ethereum, stablecoins, and DeFi apps.
1. Clear Rules for Crypto Trading
What’s changing:
Right now, it’s confusing who regulates crypto— the SEC (U.S. Securities and Exchange Commission) or the CFTC (Commodity Futures Trading Commission)? This new plan aims to fix that.
- The SEC and CFTC will both set rules for trading digital assets.
- Congress is being asked to give the CFTC clear power to oversee crypto markets that aren’t securities.
- Crypto platforms could offer custody (holding your crypto) and trading under one roof.
Why it matters:
This would make it easier for crypto companies to operate legally and safely—and for investors to trust the system.
2. Banks Can Offer Crypto Services
What’s changing:
Under past rules, many crypto startups were cut off from banks. The new plan changes that:
- Banks will be allowed to hold and manage digital assets (like wallets, staking, or custody).
- Regulators must treat crypto companies fairly—no discrimination just because they’re in Web3.
- Banks that want to serve crypto firms can apply for licenses more easily.
Why it matters:
This gives everyday people more ways to safely buy, store, and use crypto through trusted financial institutions.
3. Stablecoins Get Legal Backing
What’s changing:
Stablecoins (crypto tied to the U.S. dollar) are seen as the future of payments.
- Agencies must fully enforce the GENIUS Act, a law passed earlier to regulate U.S. dollar-backed stablecoins.
- The U.S. will support stablecoins globally to boost the dollar’s power in the digital world.
- The plan also opposes government-run crypto (CBDCs), arguing they pose privacy and control risks.
Why it matters:
This helps U.S. dollar-backed crypto grow while blocking central bank digital currencies, which some see as a threat to financial freedom.
4. Smarter Protection Against Criminal Use
What’s changing:
The government wants to fight illegal crypto use (like money laundering)—without hurting regular users.
- Congress may update laws to reach foreign crypto actors doing bad business in the U.S.
- Agencies like FinCEN will update outdated rules written back in 2013 and 2019.
- Banks and crypto firms will get clearer guidance on anti-money laundering (AML) rules.
Why it matters:
This balances the need for law enforcement while avoiding past overreach that hurt legitimate crypto activity.
5. New Rules for Crypto Taxes
What’s changing:
Crypto taxes have been a gray area. The plan wants to fix that:
- Treasury and the IRS will give clear answers about:
- If staking and mining rewards count as income
- Whether swapping or “wrapping” tokens is taxable
- What counts as small transactions (like buying coffee with Bitcoin)
- Congress may pass laws to:
- Apply wash sale rules to crypto (to stop tax tricks)
- Treat crypto lending and borrowing more like stocks
- Recognize digital assets as a special tax class
Why it matters:
This could make taxes simpler and fairer for both casual users and serious investors.
What the White House Crypto Report Means for You
This white house crypto plan is a major shift from previous years. Instead of treating crypto as a threat, it sees it as an opportunity—for financial freedom, innovation, and stronger U.S. leadership in the digital world.
The big picture:
- Over 68 million Americans now own crypto.
- Institutional interest is rising, with $4.8 billion in crypto startups in Q1 2025.
- DeFi activity is booming, with over $130 billion locked in decentralized apps.
But there’s a catch: good plans need good execution.
The government will need to pass new laws, update old rules, and make sure enforcement is fair—not political.
If done right, the white house crypto plan could make the U.S. the best place in the world to build, invest in, and safely use crypto. If not, the same confusion and setbacks could return in a new form.
