According to Jinse Finance, the Financial Stability Oversight Council (FSOC) has completely removed the section listing digital assets as a “vulnerability” to the financial system from its latest annual report. Treasury Secretary Scott Bessent stated that the new committee no longer focuses on “identifying financial system risks” but rather emphasizes the supporting role of long-term economic growth in financial stability.
Unlike the Biden administration's emphasis on stablecoin regulation and crypto risks, the Trump administration's 2025 FSOC report is significantly reduced in length and no longer offers any regulatory recommendations for crypto assets. The report notes that regulators have withdrawn previous general warnings about regulated financial institutions' involvement in the crypto space and emphasize the positive development of the digital asset industry, while also mentioning the continued need to monitor the risks of misuse of dollar-denominated stablecoins. The report also points out that the continued growth of dollar-denominated stablecoins is expected to strengthen the dollar's position in the global financial system over the next decade.