1、STRENGTHENING AMERICAN STRENGTHENING AMERICAN LEADERSHIP IN DIGITAL LEADERSHIP IN DIGITAL FINANCIAL TECHNOLOGYFINANCIAL TECHNOLOGYSTRENGTHENING AMERICAN LEADERSHIP IN DIGITAL FINANCIAL TECHNOLOGYContentsContentsI.Introduction I.Introduction .4 4II.The Digital Asset EcosystemII.The Digital Asset Ecos

2、ystem.14 14Market Size and Trends.16Market Participants.18Key Regulators and Oversight.29Market Activities .31III.Digital Asset Market StructureIII.Digital Asset Market Structure.4242Establishing a Taxonomy for Digital Assets.45Enabling the Trading of Digital Assets at the Federal Level.51Creating a

3、 Lasting Framework for Digital Asset Market Structure.54IV.Banking and Digital AssetsIV.Banking and Digital Assets.6262Bank Engagement with Digital Assets.65Current Regulatory Framework.70Access to Providing Banking Services .76Capital and Other Applicable Regulatory Treatment.79V.Stablecoins and Pa

4、ymentsV.Stablecoins and Payments.8787Payment Systems .89Innovation in Payments .90Central Bank Digital Currencies.94Promoting the Competitiveness of the U.S.Dollar Through Digital Asset Payments and Capital Markets.95VI.Countering Illicit FinanceVI.Countering Illicit Finance.9999Illicit Finance Risk

5、s.101Improving the AML/CFT and Sanctions Frameworks.103Equipping Digital Asset Actors to Mitigate Risk.113Disrupting and Mitigating Systemic Illicit Finance Risks.115VII.TaxationVII.Taxation.123123Current Tax Guidance on Digital Assets .125Substantive Tax Issues.126Taxpayer Reporting.134Third-Party

6、Information Reporting.137Table of RecommendationsTable of Recommendations.141141STRENGTHENING AMERICAN LEADERSHIP IN DIGITAL FINANCIAL TECHNOLOGYAcronyms and AbbreviationsAcronyms and AbbreviationsACH Automated Clearing HouseAdvisers Act Investment Advisers Act of 1940 AEC Anonymity-Enhanced Cryptoc