On July 30, 2025, the White House unveiled a comprehensive 166-page report from the President's Working Group on Digital Asset Markets. The document aims to establish the U.S. as a global leader in blockchain and cryptocurrency.
Key Highlights of the Report
The report emphasizes the need for **regulatory clarity and consistency**, urging Congress and regulators to define roles for the SEC and CFTC, streamline licensing, and establish regulatory sandboxes for crypto innovation. It supports recent legislation, such as the **GENIUS Act for stablecoin regulation**, and advocates for the **Dilapidated Asset Market Clarity Act**, which is heading to the Senate after passing the House.
Absence of Updates on Bitcoin Reserve
While the report references the **Strategic Bitcoin Reserve**, originally established by President Trump's March 6 executive order, it lacks new information on the initiative, such as timelines, asset accumulation models, or purchases beyond forfeited holdings. Bitcoin-focused observers have expressed disappointment:
> "The absence of any mention of a Strategic Bitcoin Reserve in today’s White House report is a missed opportunity" — CJ Burnett, Compass Mining executive.
Future of Cryptocurrency Regulation
White House officials and task force members have promised that **Bitcoin reserve implementation details will come “in short order” via Treasury action**, independent of this broader strategy document. Meanwhile, the **SEC—under Chair Paul Atkins—is launching “Project Crypto”**, signaling intent to rapidly draft securities definitions, improve disclosure regimes, and enable tokenized trading under U.S. regulation. The broader legislative push—including the **Clarity Act, stablecoin regulation, and overhaul of token tax rules**—is expected to move through Congress in the coming months as part of the crypto-friendly agenda.
The released report highlights the U.S. administration's intent to enhance the digital asset market, yet the lack of information on the Strategic Bitcoin Reserve leaves uncertainties regarding the future of this initiative.
