President Trump’s digital asset working group released its long-awaited report on the crypto industry on July 30. The 166-page landmark report contained recommendations on crypto markets and clear rules on crypto trading, custody, registration, and authority over non-security spot markets.
Earlier this week, David Sacks and Bo Hines, the individuals heading the crypto report, said it will be completed by July 30 and disclosed to the public. To the disappointment of many, the report didn’t contain any clarifications regarding the highly anticipated Strategic Bitcoin Reserve. The report highlights Trump’s sweeping vision regarding crypto assets across the United States and how they would be integrated into the economy under a clear, regulated structure.
What’s Inside the July 30 Crypto Report So Far?
The document emphasizes regulatory clarity and legislative urgency. It urges Congress to pass the CLARITY Act and Digital Market Structure Bill, as well as clearly define tokens categorized as securities or commodities to enable proper oversight by their respective bodies (the SEC and CFTC). The report also calls for tailored disclosure for crypto firms, as regards custody and trading.
Of course, the report didn’t fail to mention full disclosure among stablecoin issuers as per the recently enacted GENIUS Act. The document calls for full compliance among issuers, strict reserve audits, and issuer licensing. It also supports self-custody and expansion of DeFi platforms, while opposing traditional banking dominance over stablecoin issuance and trading.
Among other things in the report includes tax reform. The document recommends extending wash‑sale rules to prevent loss harvesting loopholes and clarifying tax treatment for staking, mining, and low-value transfers. It also suggests upgrading market infrastructure to support tokenized equities, blockchain record-keeping, and money transfer.
Trump to Integrate Crypto into All Sectors of the Economy
Unsurprisingly, Trump Crypto Group pushes for a framework that will embed digital assets in all sectors of the economy. This aligns with President Donald Trump’s pro-crypto policies of making the United States the world’s crypto capital.
According to the report, crypto will be integrated into banking, mortgages, insurance, tax infrastructure, and even retirement plans. This is a coordinated effort to position the United States as a leader in crypto innovation.
While Trump has disclosed plans to establish a Strategic Bitcoin Reserve earlier in 2025, the report didn’t shed light on the implementation roadmap or timelines. Many crypto enthusiasts were eagerly waiting for the policy mechanisms, but their absence left many disappointed.
Federico Brokate of 21Shares revealed that the strategic reserve framework isn’t on the same pedestal as regulatory guardrails, and could be the reason for the omission. However, a government official said the White House will soon release more details on the Strategic Bitcoin Reserve. The Crypto Group further confirmed that, but no timeline for release has been given.
Implications of the Crypto Report
Most industry leaders received the report with open arms, despite the absence of documents on the Bitcoin reserves. In their view, clarity around stablecoin regulation, tax, and jurisdictional authority will enhance confidence for institutional players and investors. It will also boost innovation in the process.
Still, the absence of a reserve plan, which many call “the substance of the report,” left many underwhelmed. They had been eagerly waiting for the execution of the campaign promises. Without any plan, the idea risks becoming an impossible dream rather than a reality.
Going back to the plus side, integrating crypto into mainstream finance signals federal adoption and recognition of the role of digital assets. It may face resistance from Democrats in Congress, but that marks a pivotal moment in policy building.
What’s Next?
The July 30 report offers a comprehensive overview of the United States government blueprint on digital assets. It combines legislative ambition, tax reform, and strategic vision. However, the document on Strategic Bitcoin Reserve implementation is still very much in anticipation. Trump Crypto Group will try not to disappoint market watchers again by excluding it from their next release.
The White House is also proposing that U.S. taxpayers report foreign crypto accounts to curb capital flight and strengthen domestic exchanges. The plan includes a new Crypto Asset Reporting Framework (CARF) and excludes new DeFi reporting rules. This may also be included in the next report, but no timeline has been given yet.
