US Crypto Working Group Urges Federal Trading, UK Parliament Relaunches Crypto Regulation Push

The White House digital asset working group, led by David Sacks and established by President Trump in January 2025, is urging federal regulators such as the SEC and CFTC to clarify trading rules and expedite innovation in the cryptocurrency sector. This push follows the passage of three key crypto bills in July, including the GENIUS Act, which President Trump signed into law, aiming to regulate stablecoins and reduce market risks. The group also recommends recognizing cryptocurrencies as a new asset class with modified tax rules to lower compliance burdens and encourage broader market participation. Major Wall Street firms like JPMorgan and Bank of America have indicated plans to enter the stablecoin market, anticipating that the new regulatory environment will facilitate real-world asset tokenization. Meanwhile, in the UK, the All-Party Parliamentary Group for Crypto and Digital Assets has been relaunched to foster dialogue between MPs, regulators, and industry stakeholders, aiming to develop clear, robust crypto regulations that protect consumers and promote innovation. This move reflects growing global efforts to balance regulatory clarity with the rapid expansion of the digital asset market.