Fact Sheet: The President’s Working Group on Digital Asset Markets Releases Recommendations to Strengthen American Leadership in Digital Financial Technology

Fact sheetRegulation easedPublished 25/07/30Open the original

Summary

The President's Working Group on Digital Asset Markets, set up under Executive Order 14178, recommends legislation giving the CFTC oversight of spot markets for non-security digital assets, SEC and CFTC action to enable digital asset trading, clarity on bank custody and stablecoin activities, and prompt implementation of the GENIUS Act signed on July 18, 2025.

By industry

Crypto & Digital Assets1 trading day−0.1%p15 stocks5 trading days−4.4%p15 stocks20 trading days−0.9%p15 stocks
“providing the CFTC authority to oversee spot markets for non-security digital assets”

Day by day after the announcement

Crypto & Digital Assets stocks and the S&P 500 after the announcement, cumulative %
Day	Crypto & Digital Assets stocks	S&P 500
25/07/29	0.0%	0.0%
25/07/30	+0.3%	+0.4%
25/07/31	−1.3%	−0.5%
25/08/01	−7.5%	−2.1%
25/08/04	−3.6%	−0.4%
25/08/05	−5.6%	−1.2%
25/08/06	−3.1%	−0.4%
25/08/07	−2.5%	−0.3%
25/08/08	−3.7%	+0.5%
25/08/11	−3.5%	+0.1%
25/08/12	−3.4%	+1.2%
25/08/13	−2.9%	+1.5%
25/08/14	−2.3%	+1.6%
25/08/15	−2.4%	+1.3%
25/08/18	−0.4%	+1.3%
25/08/19	−6.3%	+0.8%
25/08/20	−5.2%	+0.5%
25/08/21	−6.8%	+0.1%
25/08/22	−1.2%	+1.6%
25/08/25	−2.0%	+1.3%
25/08/26	+0.8%	+1.7%

Korean stocks in these industries

NAVER 035420
Hanwha Investment & Securities 003530
Woori Technology Investment 041190
Wemade 112040

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Peter L. Briger Jr.Director
BuyStrategy
Buy
Strategy
MSTR
$19.8M
220,000 sh
$19.8M
Filed 25/07/29
Traded 25/07/29
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$495K
5,500 sh
$495K
Filed 25/07/29
Traded 25/07/29
Andrew KangEVP & CFO
BuyStrategy
Buy
Strategy
MSTR
$252K
2,800 sh
$252K
Filed 25/07/29
Traded 25/07/29
Jarrod M. PattenDirector
BuyStrategy
Buy
Strategy
MSTR
$500K
5,555 sh
$500K
Filed 25/07/29
Traded 25/07/29
Jeanine MontgomeryVp & Cao
BuyStrategy
Buy
Strategy
MSTR
$450K
5,000 sh
$450K
Filed 25/07/29
Traded 25/07/29
Wei-Ming ShaoEVP & General Counsel
BuyStrategy
Buy
Strategy
MSTR
$225K
2,500 sh
$225K
Filed 25/07/29
Traded 25/07/29
Jane A. DietzeDirector
BuyStrategy
Buy
Strategy
MSTR
$135K
1,500 sh
$135K
Filed 25/07/29
Traded 25/07/29
Gregg WiniarskiDirector
BuyStrategy
Buy
Strategy
MSTR
$976.5K
10,000 sh
$976.5K
Filed 25/08/12
Traded 25/08/08
Jeremy AllaireChairman and CEO
SellCircle Internet Group
Sell
Circle Internet Group
CRCL
$45.5M
357,812 sh
$45.5M
Filed 25/08/20
Traded 25/08/18
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$3,042
32 sh
$3,042
Filed 25/08/28
Traded 25/08/26
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$1,521
16 sh
$1,521
Filed 25/08/28
Traded 25/08/26
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$6,746
71 sh
$6,746
Filed 25/08/28
Traded 25/08/26
Akshay Sudhir NahetaCEO and President
BuyBakkt
Buy
Bakkt
BKKT
$818K
100,000 sh
$818K
Filed 25/08/25
Traded 25/08/21
Akshay Sudhir NahetaCEO and President
BuyBakkt
Buy
Bakkt
BKKT
$400K
50,000 sh
$400K
Filed 25/08/25
Traded 25/08/21
Patrick Sean NevilleDirector
SellCircle Internet Group
Sell
Circle Internet Group
CRCL
$33.1M
260,374 sh
$33.1M
Filed 25/08/20
Traded 25/08/18
Akshay Sudhir NahetaCEO and President
BuyBakkt
Buy
Bakkt
BKKT
$256.5K
30,000 sh
$256.5K
Filed 25/08/25
Traded 25/08/22
Andrew KangEVP & CFO
SellStrategy
Sell
Strategy
MSTR
$2.5M
6,250 sh
$2.5M
Filed 25/08/11
Traded 25/08/07
Andrew KangEVP & CFO
SellStrategy
Sell
Strategy
MSTR
$2.5M
6,250 sh
$2.5M
Filed 25/08/11
Traded 25/08/07
Andrew KangEVP & CFO
SellStrategy
Sell
Strategy
MSTR
$2.4M
6,250 sh
$2.4M
Filed 25/08/11
Traded 25/08/07
Andrew KangEVP & CFO
SellStrategy
Sell
Strategy
MSTR
$2.4M
6,250 sh
$2.4M
Filed 25/08/07
Traded 25/08/05