- The Presidential Working Group on Digital Asset Markets provided a robust roadmap to accelerate crypto adoption across multiple sectors.
- The 160-page report urged the U.S. SEC and CFTC to provide detailed guidance on crypto creation, use, and custody.
- The recommendations will play a crucial role in enabling the mainstream adoption of digital assets.
Stuart Alderoty, Ripple Labs Chief Legal Officer (CLO), has welcomed the 160-page report from President Donald Trump’s Working Group on Digital Asset Markets. According to Alderoty, the report is a “comprehensive, helpful, and direct” document that affirms the Trump administration as the most pro-crypto regime yet.
The report, released on Wednesday, July 30, was a response to an executive order to strengthen American leadership in digital finance. For you as a crypto user, this is the first serious step towards a full, cohesive regulatory framework in the U.S.
“From callouts in support of the CLARITY Act and to establish crypto market structure rules, to strengthening consumer protections and enhancing national security measures, there’s a lot in this 160-page report that provides a blueprint for action,” Alderoty noted.
Here’s how Ripple stands to benefit from the report
If you’ve been following the Ripple story, you know it’s one of the largest blockchain payment companies in the U.S., but one that has suffered from regulatory overreach.
The long-running SEC vs. Ripple lawsuit is now on the verge of ending, and this new report provides a clear path forward. And for that, Ripple stands to benefit from the recommended pro-innovation and anti-CBDC frameworks.
The report specifically urges the SEC and the CFTC to define digital asset classifications and custody rules, which is exactly the clarity Ripple has been fighting for.
Related: Trump’s July 30 Crypto Report to Back Stablecoins, Rejects CBDCs, Eyes Bitcoin Reserve
Ripple has several key products, including XRP and its new stablecoin, Ripple USD (RLUSD), that stand to benefit significantly from this new regulatory clarity. Remember, a core part of Ripple’s long fight has been to ensure XRP is not classified as a security, but is instead regulated as a commodity, similar to Bitcoin and Ethereum.
New SEC Chair’s comment adds more fuel to the fire
In a powerful statement that adds more fuel to the fire, the new U.S. SEC Chairman, Paul Atkins, directly called out the previous administration.
“At its core, the PWG report reflects a conviction that I have long held: a rational regulatory framework for digital assets is the best way to catalyze American innovation, protect investors from fraud, and keep our capital markets the envy of the world. Unfortunately, my predecessor and the previous Administration did not share that vision,” Paul Atkins, U.S. SEC Chairman, noted.
Related: Is XRP Still Needed as a Bridge Asset in a Stablecoin World?
The White House report also backed the recently passed GENIUS Act to enable stablecoin payments while condemning the creation of a U.S. CBDC. This is a direct tailwind for Ripple’s RLUSD, which has already grown to a market cap of around $577 million and sees a 24-hour average trading volume of about $85 million, according to Coingecko data.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
