The U.S. financial system continues to adapt to the rapid growth of cryptocurrencies and blockchain technologies. Recently, several significant initiatives have been introduced that could reshape the U.S. crypto landscape. From public discussions at the Commodity Futures Trading Commission (CFTC) to proposals for tax breaks and state investments in digital assets, the U.S. is taking steps toward creating a new economic order.
CFTC Launches Series of Roundtable Discussions on Digital Assets
The Commodity Futures Trading Commission (CFTC), one of the key regulators in the U.S., has announced plans to hold public discussions on the regulation of digital assets. These discussions will focus on issues such as conflicts of interest, prediction markets, and cryptocurrencies, reflecting growing attention to the topic amid the rapid development of the crypto market.
Acting CFTC Chair Caroline Pham emphasized the importance of returning to fundamental regulatory principles and creating an appropriate administrative framework for digital assets. “We are hosting a series of roundtables with experts to form a comprehensive regulatory framework based on data, research, and public opinions,” Pham said. As such, the regulator aims to establish clear and fair rules that will not only protect market participants but also foster U.S. economic growth.
Scott Bessent — New U.S. Treasury Secretary and Cryptocurrency Supporter
The U.S. Senate has confirmed billionaire Scott Bessent as the new Treasury Secretary. Bessent is known as a vocal supporter of cryptocurrencies, and his appointment is seen as a positive step for the development of the crypto industry in the U.S. Sixty-eight senators voted in favor of his nomination, underscoring broad support within the legislative body.
Ripple CEO Brad Garlinghouse congratulated Bessent, expressing confidence that the new Treasury Secretary will promote sensible economic policies and support crypto innovations in the U.S. Under Bessent’s leadership, the Treasury Department could work to create favorable conditions for crypto companies, strengthening the U.S.’s position as a global leader in blockchain technology and cryptocurrencies.
Trump Considers Abolishing Capital Gains Tax for Cryptocurrencies
The U.S. political scene is also actively addressing cryptocurrency issues. Donald Trump is considering abolishing capital gains tax for cryptocurrencies registered in the U.S. This ambitious initiative aims to transform the U.S. into a global center for blockchain technology development and implementation.
Eric Trump also indicated that certain projects, such as XRP and HBAR, might benefit from favorable tax treatment soon. However, foreign cryptocurrency companies are likely to face tax rates of up to 30%, which could harm their competitiveness.
Arizona Opens the Door to Cryptocurrency Investments
Not only federal authorities but also individual U.S. states are showing increasing interest in using digital assets for diversification. The Arizona Senate recently approved bill SB1025, allowing up to 10% of state funds to be invested in Bitcoin and other cryptocurrencies. This move sends a strong signal to the crypto market, confirming growing state-level interest in cryptocurrencies.
The bill, known as the “Arizona Strategic Bitcoin Reserve Act,” was introduced by Senators Wendy Rogers and Jeff Weninger. According to the bill, crypto assets will be stored in an isolated and secure account. If a similar federal reserve is created, Arizona can integrate its holdings into it, creating additional opportunities for growth in the crypto sector.
This is the second move by Arizona toward cryptocurrency investments — several other U.S. states have also shown interest in implementing blockchain technologies in financial and government structures.
Growing Interest and Prospects
Judging by recent events, the U.S. is committed to actively developing the cryptocurrency sector, promoting not only federal but also local initiatives. The introduction of favorable tax conditions, support for cryptocurrency technologies, and the creation of new regulatory frameworks could further strengthen the U.S.’s position as a global leader in blockchain innovations. All of these steps lay the foundation for the continued growth of cryptocurrency technologies in the country and around the world.
The situation in the U.S. crypto market remains dynamic, and we can expect further changes in legislation and tax policy that will have a significant impact on the development of the cryptocurrency ecosystem in the coming years.
