White House | Crypto

Coinbase CEO Brian Armstrong said the industry is working on several ideas to help community banks in the CLARITY market structure bill. Brian Armstrong, the CEO of crypto exchange Coinbase, denied reports that the White House is considering pulling support for the CLARITY Act, a crypto market structure bill, and also denied rumors that the administration is “furious” with Coinbase. “The White House has been super constructive here. They did ask us to see if we can go figure out a deal with the banks, which we're currently working on,” Armstrong said.  On Friday, independent journalist Eleanor Terrett reported a clash between Coinbase and the administration of US President Donald Trump, with the White House threatening to withdraw support for the market structure bill if Coinbase did not resume negotiations. Read more

Coinbase withdrew support for the CLARITY Act, warning the draft would restrict DeFi, ban tokenized equities and eliminate stablecoin rewards. The White House is considering withdrawing its support for crypto market structure bill following a similar move from crypto exchange Coinbase, according to Fox Business reporter Eleanor Terrett, citing a source close to the Trump administration. In a Sunday post on X, Terrett reported that the White House is furious over Coinbase’s decision to pull its backing for the Digital Asset Market Clarity Act, describing the move as a “unilateral” action that blindsided administration officials. “The White House is said to be furious with Coinbase’s “unilateral” action on Wednesday, which it apparently was not notified of in advance, calling it a “rug pull” against the White House and the rest of the industry,” she wrote. Read more

Selling the Bitcoin would have violated President Donald Trump’s Executive Order 14233, which mandates that any Bitcoin obtained through criminal or civil forfeiture “shall not be sold.” A White House crypto advisor said he received confirmation from the US Department of Justice that no Bitcoin forfeited from the Samourai case was sold, putting rumors to rest. The confirmation was shared on X by Patrick Witt, Executive Director of the White House President’s Council of Advisors for Digital Assets: “We have received confirmation from DOJ that the digital assets forfeited by Samourai Wallet have not been liquidated and will not be liquidated,” Witt posted to X Friday, adding that the forfeited Bitcoin would remain part of the Strategic Bitcoin Reserve. Read more

The White House is reviewing a proposal to join an international crypto tax standard that could deter Americans from moving their digital assets to offshore exchanges. The White House is reviewing the Internal Revenue Service’s proposal to join the global Crypto-Asset Reporting Framework, which would provide the tax department with access to Americans’ foreign crypto account data. Adoption of the “Broker Digital Transaction Reporting” proposal — submitted to the White House last Friday — would put the US crypto tax system in line with 72 other countries that have committed to implementing CARF by 2028. While the proposal wasn’t categorized as “economically significant” by the IRS, the rule would force Americans to be far more stringent in reporting capital gains tax from foreign crypto platforms. Read more

Democratic lawmakers pressed David Sacks, President Donald Trump’s “crypto and AI czar,” on Sept. 17 to disclose whether he has exceeded the time limits of his temporary White House appointment, raising questions about possible ethics violations. In a letter signed by Senator Elizabeth Warren and seven other members of Congress, the lawmakers said Sacks may […] The post Elizabeth Warren raises ethics concerns over White House crypto czar David Sacks’ tenure appeared first on CryptoSlate.

The White House Press Office confirmed to Cointelegraph that President Trump will sign an executive order allowing crypto exposure in US 401(k) retirement plans. US President Donald Trump will sign an executive order opening the door for cryptocurrencies to be included in 401(k) retirement plans, potentially reshaping how Americans invest their savings. The White House Press Office confirmed to Cointelegraph on Thursday that the order directs the US Labor Department to reevaluate restrictions around alternative assets in defined-contribution plans, including digital assets, private equity and real estate.  A senior White House official said the order instructs the labor secretary to clarify the department’s stance on alternative assets and provide guidance on fiduciary processes for offering these types of investments in retirement portfolios. Read more

Carving out clear jurisdictions for the SEC and CFTC may ease investor concerns over ambiguous securities laws. The long-awaited White House report on cryptocurrency policy recommendations may bring an end to years of regulatory uncertainty for digital asset companies, many of which have struggled with unclear guidance regarding securities laws. US President Donald Trump’s Working Group on Digital Assets released its crypto policy report on Wednesday, outlining recommendations on market structure, banking regulations and methods to bolster the US dollar’s dominance through stablecoins and crypto tax laws. One of the report’s key proposals is a division of responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The CFTC will gain authority over spot crypto markets, addressing longstanding concerns about overlapping or conflicting enforcement. Read more

A vote on prospective CFTC Chair Brian Quintenz was taken off the Senate Agriculture Committee’s agenda on Monday as the chamber heads into recess. The Senate Agriculture Committee has pulled a planned hearing on Brian Quintenz’s nomination to chair the Commodity Futures Trading Commission (CFTC), following a request from the White House just days before lawmakers leave for August recess. In an update to the committee’s schedule on Monday, chair John Boozman and ranking member Amy Klobuchar said lawmakers would not consider Brian Quintenz’s nomination to chair the CFTC. A spokesperson for the committee told Cointelegraph that consideration of Quintenz’s nomination was removed following a request from the White House. Cointelegraph reached out to the White House for comment but had not received a response at the time of publication. Read more

Brian Quintenz, Trump's CFTC nominee, has been stalled by the White House in the committee vote that could send his confirmation to the Senate floor.

Pakistan’s crypto minister met with Trump’s digital asset leadership to promote cross-border cooperation and outline Bitcoin-powered infrastructure plans. Pakistan’s minister of state for crypto and blockchain, Bilal Bin Saqib, met with Robert “Bo” Hines, executive director of US President Donald Trump’s Council on Digital Assets, during a visit to the White House. The meeting focused on boosting cooperation between Pakistan and the United States in the digital assets space. Discussions covered a broad range of topics, including Bitcoin (BTC), potential partnerships and the future of decentralized finance, according to a report by 24NewsHD TV. One key area of dialogue was Pakistan’s newly announced Strategic Bitcoin Reserve. “It is my mission to position Pakistan as a global leader in digital assets,” Saqib said after the meeting. Read more

David Sacks says a strategic BTC acquisition could be “budget-neutral,” avoiding taxes, debt, or new federal outlays. The post White House’s David Sacks Hints at Budget-Neutral Path for U.S. Bitcoin Purchases appeared first on Cryptonews.

Although the White House claimed progress was made, no official details on a deal were announced, casting doubts on the purported agreement. The White House announced that talks between the United States and China regarding a trade deal have made "substantial progress," yet no official deal has been announced at this time, leaving investors in doubt. According to a May 11 announcement from the White House, more details on the trade talks and the proposed "agreement" will be revealed on May 12. “I am happy to report that we made substantial progress between the United States and China in the very important trade talks," Treasury Secretary Scott Bessent said in a joint statement with US trade representative Jamieson Greer. Read more