Digital Commodity – An asset without an issuer, backed by digital power (e.g.,
Bitcoin).
Backed by digital power — Bitcoin
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Digital asset regulation must prioritize efficiency and innovation over friction and bureaucracy.
Goal: Enable exponential improvements in cost, speed, quality, and accessibility via free-
market competition and innovation.
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prioritize efficiency and innovation, over friction and bureaucracy. Free market competition and innovation
Vision
Vision: A Capital Markets Renaissance
The United States has an opportunity to catalyze a 21st-century capital markets renaissance,
unleashing trillions of dollars in value creation.
• Rapid Issuance: Allow issuers to create and issue digital assets in hours or days instead
of months or years.
• Cost Reduction: Drive the cost of issuance from $10–100 million to $10–100 thousand.
• Access Expansion: Open capital markets to 40 million businesses (up from the current
4,000 public companies).
• Broader Participation: Empower small businesses, artists, celebrities, and mid-sized
enterprises to raise capital through tokenized assets.
Investor Opportunities: Enable access to thousands of digital assets, including:
• Tokenized commodities, real estate, art, businesses, teams, collectibles, IP, and
brands.
• Financial instruments like equity, debt, derivatives, and currencies.
• Products, services, and projects that provide value to customers, investors, and fans.
…
Opportunity: Establishing the United States as the Global
Digital Leader
A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and
position America as the global leader in the 21st-century digital economy.
• USD as the Global Reserve Digital Currency: Grow digital currency markets from $25
billion to $10 trillion, creating massive demand for US Treasuries.
• Digital Capital Growth: Expand global digital capital markets from $2 trillion to $280
trillion, with US investors capturing the majority of this wealth.
• Digital Assets Leadership: Drive growth in digital assets (beyond Bitcoin) from $1
trillion to $590 trillion, with the United States dominating this industry.
• Strategic Bitcoin Reserve: Establish a Bitcoin reserve capable of creating $16–81
trillion in wealth for the US Treasury, providing a pathway to offset national debt.
Conclusion: Seizing the Digital Assets Opportunity
By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance
obligations, the United States can lead the global digital economy. A capital markets renaissance
fueled by digital assets will unlock trillions in wealth, empower millions of businesses, and
solidify the US dollar as the foundation of the 21st-century digital financial system