Launchy Regulatory Roundup #47 - White House Crypto Report Proposes Stockpile, Regulation Clarity

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Welcome to our 47th edition of the regulatory roundup. If you know anybody who would benefit from this content, please help us spread the word!

In Today's Edition:

• Headline: White House Crypto Report Proposes Stockpile, Regulation Clarity 👀 

• Global Legal Roundup

• Case Study: How the GENIUS Act Reshapes Stablecoin Landscape 🔎 

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HEADLINE

White House Crypto Report Proposes Stockpile, Regulation Clarity

State of play: The White House has released a crypto report, calling it the most comprehensive digital asset policy document to date. It stems from a January executive order by President Trump that formed the Working Group on Digital Asset Markets.

• Key figures involved include Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and SEC Chair Paul Atkins.

• The report supports crypto innovation and recommends a clear regulatory framework, including a right for individuals to self-custody assets and expanded oversight powers for the CFTC over non-security spot markets.

• It also pushes for guidance on crypto taxation, particularly concerning unrealized gains, wrapping transactions, and de minimis use.

A major highlight is the plan to form a strategic US crypto reserve, including assets like Bitcoin, Ethereum, XRP, Solana, and Cardano. This reserve will be funded through forfeiture proceedings and administered by the Treasury.

• The Bitcoin portion is not intended to be sold but kept for strategic objectives.

What’s Next: The report complements recent legislative progress, including the GENIUS Act for stablecoins and the Clarity framework for broader market regulation, signaling the US is moving toward a more structured crypto policy era.

Why it Matters: This marks the strongest policy endorsement of crypto from the US government, laying the groundwork for self-custody rights, market clarity, and a national crypto reserve.

Our Take: The report signals that the US is finally treating crypto as strategic infrastructure, not just speculative tech. Expect real regulatory movement ahead.

GLOBAL LEGAL ROUNDUP

America:

• 🇺🇲 DOJ backtracks on pursuing charges against Dragonfly.

• 🇺🇲 Democrats press bank regulator on Trump stablecoin conflicts.

• 🇺🇲 Uniswap, a16z, and allies urge Senate to protect DeFi developers.

• 🇺🇲 Firms amend SOL ETF filings as they look to get the SEC's approval.

• 🇺🇲 US appeals court overturns OpenSea product manager’s conviction.

• 🇺🇲 SEC Chair calls to ‘reshore crypto’ as companies move back to the US.

• 🇺🇲 SEC approves in-kind redemptions for spot Bitcoin and Ethereum ETFs.

• 🇺🇲 SEC Chair Atkins debuts 'Project Crypto' to update rules and regulations.

• 🇺🇲 Sen. Lummis introduces bill to consider crypto as an asset for mortgages.

Europe:

• 🇬🇧 UK financial regulator to open retail access to crypto ETNs.

APAC:

• 🇮🇩 Indonesia to hike crypto transaction taxes starting August.

• 🇰🇷 Bank of Korea to launch virtual asset committee to monitor crypto.

• 🇭🇰 Hong Kong to begin 6-month transition period for new stablecoin rules.

• 🇰🇷 South Korea to target leveraged crypto lending services with new rules.

CASE STUDY

How the GENIUS Act Reshapes Stablecoin Landscape

Credits to Cointelegraph & Fabian Dori for the original podcast

State of play: The GENIUS Act, now US law, establishes a strict federal framework for fiat-backed stablecoins, requiring full asset backing, federal licensing, and independent reserve audits.

Fabian Dori, CIO at Sygnum Bank, said on Cointelegraph’s Byte-Sized Insight podcast that these measures will give institutional investors the legal clarity they need to adopt regulated stablecoins at scale.

• However, the act bans yield-bearing stablecoins, drawing a clear line between non-yielding payment tokens and tokenized money market funds.

• This could significantly alter DeFi dynamics by limiting passive income options directly from fiat-backed stablecoins.

• Dori also noted that while the EU has been slower and more risk-averse with its digital finance approach, the US is now positioning itself as the more innovation-friendly environment.

Our Take: The GENIUS Act could prompt Europe to accelerate its own regulatory efforts to stay competitive.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our comprehensive database of crypto regulations around the world👇

NOTEWORTHY READS & MEME

• Jake Chervinsky’s thread on “Project Crypto.”

• Rebecca Rettig’s thread on the President's WG Report.

• Miles Jennings’s thread on the Senate’s market structure legislation.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.