B
BTC $115,003 ↓ 3%
E
ETH $3,622 ↓ 6.2%
X
XRP $2.93 ↓ 7.6%
U
USDT $1.00 ↑ 0%
B
BNB $768.85 ↓ 5.2%
S
SOL $167.69 ↓ 8.1%
U
USDC $1.00 ↑ 0%
S
STETH $3,618 ↓ 6.2%
T
TRX $0.33 ↓ 0.7%
D
DOGE $0.20 ↓ 9%
A
ADA $0.72 ↓ 8.3%
W
WBTC $114,925 ↓ 3%
B
BTC $115,003 ↓ 3%
E
ETH $3,622 ↓ 6.2%
X
XRP $2.93 ↓ 7.6%
U
USDT $1.00 ↑ 0%
B
BNB $768.85 ↓ 5.2%
S
SOL $167.69 ↓ 8.1%
U
USDC $1.00 ↑ 0%
S
STETH $3,618 ↓ 6.2%
T
TRX $0.33 ↓ 0.7%
D
DOGE $0.20 ↓ 9%
A
ADA $0.72 ↓ 8.3%
W
WBTC $114,925 ↓ 3%

White House To Release Policy Report on Digital Assets July 30

Donald Trump and his crypto team, the President’s Digital Asset Working Group, will release a policy report on cryptocurrencies on July 30, according to news circulating at the White House. The report, led by David Sacks and Bo Hines, will be completed by then and disclosed to the public. 

The release of the report excites the crypto community, as they look forward to an update regarding the Strategic Bitcoin Reserve. The crypto policy report marks a turning point in the United States’ digital asset regulation, as it intends to build clarity around issuance, trading, and custody.

Core Details from the White House Policy Report

Bo Hines, in an X post, revealed the crypto team has completed the 180-day report and will disclose it to the public on July 30. His statement provides a sigh of relief, as crypto enthusiasts expected the release of the report on July 22 based on the stated 180-day timeline. 

The report, issued under the President’s Executive Order 14178 in January, was developed with federal bodies, including the Treasury, Commerce Department, SEC, and CFTC. The Order was initially for the crypto working group to explain the process of creating a Strategic Bitcoin Reserve. The report may include the quantity of the United States’ holdings in its Reserve that the federal government seized.

Furthermore, the report could update the public on the progress of the BITCOIN Act, suggested by Senator Cynthia Lummis. The proposed legislation mandates that the United States government purchase 1 million BTC over five years.  

Furthermore, the report could contain;

  • The proposal for a unified framework across all federal agencies and how they would govern issuance and digital asset use
  • Clear definitions for cryptocurrency categories and responsibilities for agencies
  • Emphasis on AML/KYC disclosures for consumer and investor protection
  • Financial stability oversight by agencies to manage systemic risks
  • Coordinated responses to crypto misuse in situations involving money laundering and cybersecurity risks. 

However, the president has already made progress in the area of framework by signing into law the GENIUS Act. The legislation regulates stablecoin issuance in the United States. It requires banks, corporations, and other regulated entities to comply with strict reserve and disclosure requirements. It mandates an annual audit of issuers with a market cap exceeding $50 billion. 

The Policy Report Could Influence the Market

The crypto report, when released, could significantly influence the crypto market, potentially affecting investor confidence and regulatory expectations. The BITCOIN Act, for example, could create bullish sentiments for BTC if the legislation is passed. The buy pressure on BTC would be high, forcing prices to rise.

Senator Lummis has stated that Congress will debate the proposed BITCOIN Act after concluding the CLARITY Act and the Anti-CBDC Surveillance Act. The passage of the bill will depend on other legislation. However, DIQ experts think Congress will pass the bill due to the influence of Donald Trump.

While the exact details of the report are still sketchy, sentiments could arise that could affect the market. However, the passage of the GENIUS Act has enhanced institutional confidence, as participation has noticeably increased due to a clear legal framework. With regulations regarding issuance, custody, and disclosure apparent, entities will enter the space with clear expectations and objectives.

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