The Biden administration has released its 2023 budget report, which projects a deficit of $1.15 trillion for the year of $5.8 trillion. It also contains some information about the US government's long-term plans for cryptocurrencies. The White House proposal to update rules on digital assets, largely through expanded tax filing requirements, is expected to bring in more than $10 billion in new revenue over the next decade, according to the report. In addition, the report noted that an additional $52 billion would be allocated to the Justice Department to hire more agents and access analytical services as "part of the government's anti-ransomware strategy to emphasize disruptive activities and combat cryptocurrency abuse." In addition to the White House budget, the Treasury Department released its strategic plan for the next four years. The plan emphasizes the role of the Financial Stability Oversight Council (FSOC) in addressing "emerging and growing threats to financial stability, with a focus on climate change and digital asset risks," which is consistent with Treasury's work to expand the FSOC's role in encryption. Earlier this March, President Biden issued an executive order on digital assets. The order largely commissioned research from a range of federal agencies, rather than calling for a broad crackdown on digital assets.