The White House is set to unveil its first cryptocurrency policy report by the end of this month, outlining plans for a Bitcoin reserve and enhanced regulatory oversight.
Bitcoin Reserve Strategy
The upcoming report represents a pivotal moment in U.S. crypto policy, discussing a government-held Bitcoin stockpile potentially acquiring up to 1 million BTC over five years, involving key figures such as David Sacks and Senator Cynthia Lummis.
Regulatory Changes for Stablecoins
With the introduction of the GENIUS Act, stablecoin issuers will fall under banking-style oversight, removing them from SEC and CFTC jurisdiction. This change promises significant regulatory shifts for all digital assets.
Potential Market Impact
The market anticipates asset fluctuations and institutional responses, as Bitcoin currently trades at $118,174.40 with a market cap of $2.35 trillion, reflecting recent interest ahead of the policy report.
The White House's impending policy highlights the seriousness of the U.S. approach to cryptocurrency regulation, potentially reshaping the balance of power in the global crypto asset arena.
