A group established via executive order by President Donald Trump is urging federal regulators to provide clearer rules on the trading of digital assets such as cryptocurrency and to ease the adoption of new financial products.

Proposals from the Working Group on Digital Asset Markets, released Wednesday, asks Congress to pass the Digital Asset Market Clarity Act to eliminate gaps in regulatory oversight by giving the Commodity Futures Trading Commission (CFTC) authority to “oversee spot markets for non-security digital assets” and measures that embrace decentralized finance technologies.

The report, which recommends the use of so-called safe harbors and other regulatory tools, urges the CFTC and Securities and Exchange Commission to “immediately enable the trading of digital assets at the federal level” by providing more clarity on registration, custody, trading and recordkeeping.

The group, which is overseen by AI and crypto czar David Sacks, also calls on Congress to recognize cryptocurrencies as a new asset class, subject to modified versions of existing tax rules for securities or commodities.

“By implementing these recommendations, policymakers can ensure that the United States leads the blockchain revolution and ushers in the Golden Age of Crypto,” the White House said in a fact sheet on the group’s recommendations, which are aimed to turbocharge crypto markets.

What was not included was detail on progress and plans for the federal government to stockpile bitcoin or other digital assets. The president and his sons run a crypto start-up, World Liberty Financial, which offers a popular form of digital currency known as a stablecoin.

“Since David Sacks has taken a leadership role in the administration around crypto, we have seen more progress in six months than the last decade when it comes to clarity and sensible frameworks,” Steven Dickens, CEO and principal analyst at HyperFRAME Research, said in an email. “The announcement here is just another example. The fact that these moves have broadly been bipartisan is an indication that common sense is prevailing.”

Ideas from the group were reflected in the recent passage of the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act — policies that touch on everything from stablecoins and market structure to restrictions on central bank digital currencies.