TLDR
- White House set to release comprehensive crypto policy report on July 30, dubbed a “regulatory Bible” by industry leaders
- Report stems from Trump’s January executive order creating the President’s Working Group on Digital Asset Markets
- Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and SEC Chair Paul Atkins are key members of the working group
- Document expected to address stablecoin regulations, banking access, and national security concerns around virtual assets
- Status of strategic Bitcoin reserve and government’s crypto stockpile holdings will be revealed in the report
The White House is preparing to release its first major cryptocurrency policy report on July 30. This document will provide the clearest picture yet of how the Trump administration plans to regulate digital assets.
The report comes from an executive order President Donald Trump issued in January. That order created the President’s Working Group on Digital Asset Markets. The group was tasked with developing recommendations for a regulatory framework covering digital assets.
Treasury Secretary Scott Bessent leads the working group. Commerce Secretary Howard Lutnick and Securities and Exchange Commission Chair Paul Atkins are also members. They had 180 days to complete their review and submit recommendations.
Cody Carbone runs The Digital Chamber, a crypto advocacy group. He calls the upcoming report a “regulatory Bible” that will guide federal policy. The document will influence every rule and guidance document released over the next three and a half years.
The report will help lawmakers as they work on crypto legislation. House lawmakers recently passed a stablecoin bill that went to Trump’s desk for signature. They also approved broader crypto industry regulation that still needs Senate approval.
Senate Republicans want to vote on their version by September 30. The White House report will fill gaps as this legislation moves forward.
Expected Policy Areas
The report is expected to cover several key areas. Stablecoin regulations pegged to the U.S. dollar will likely receive attention. Banking access for crypto companies remains a priority issue.
National security concerns around virtual assets will also be addressed. The document should provide technology-neutral regulatory clarity within defined jurisdictional boundaries.
Tax policy represents another major focus area. Carbone says tax clarity is the number one priority for the crypto industry. The Digital Chamber has asked for specific tax changes in their recommendations to the administration.
The report may include plans for agencies to issue new guidance. It could also detail which past guidance documents might be rescinded.
Bitcoin Reserve Status
Trump proposed creating a strategic Bitcoin reserve through a March executive order. He tasked Lutnick and Bessent with developing budget-neutral strategies for acquiring additional Bitcoin. These strategies must have no incremental costs to American taxpayers.
The report will reveal details about the government’s current crypto holdings. The U.S. government currently holds 198,012 Bitcoin worth approximately $23.2 billion. These holdings come from legal enforcement actions by federal agencies like the FBI and Department of Justice.
However, there’s a distinction between seized and forfeited Bitcoin. The government officially owns forfeited assets. Seized assets may go to compensating victims of hacks and scams or into the government treasury.
A source familiar with the matter said the report may not include details about the Bitcoin reserve. However, that could change before the final release.
A briefing is scheduled for around 2:30 p.m. on Wednesday. Working group members and industry representatives will attend. It’s unclear whether the report will be released before or after this meeting.
Industry leaders view this report as a major milestone. Blockchain Association CEO Summer Mersinger called it a fulfillment of Trump’s campaign promises regarding crypto policy.
