The first digital asset policy report from the White House is about to be released

On July 30, the highly anticipated first digital asset policy report from the White House is set to be released. This report not only represents the current government's first systematic statement on its regulatory stance towards cryptocurrencies, but it is also seen as an important document that may lead the direction of industry development in the coming years.

Against the backdrop of multiple legislative developments and regulatory games, the impact of this report may far exceed the scope of regulation.

From Executive Order to Top-Level Design

In January this year, the president signed Executive Order 14178, establishing the "Presidential Working Group on Digital Assets" led by the Secretary of the Treasury. This group includes several key regulators and aims to comprehensively assess the development trends of digital assets and propose policy recommendations.

After 180 days of preparation, this important report is finally about to be unveiled. Relevant officials from the White House have confirmed on social media that it will be officially released on July 30, stating that "the United States is leading the global digital asset policy trend."

The timing of the report's release coincides with substantial progress on multiple key legislations, with a dual approach of executive orders and legislation sending a clear signal: the United States is fully engaging in digital asset governance.

The industry expects clearer regulations

After years of regulatory ambiguity and tug-of-war among stakeholders, the industry's most pressing expectation for this report lies in the "clarity" and "sense of boundaries" it can provide.

Industry insiders have stated that this will be "the programmatic document for all relevant regulations and guidelines in the next three and a half years."

According to existing information, the report is expected to focus on the following four major areas:

1. Stablecoin Regulatory Framework
2. The Integration Mechanism between Cryptocurrency Enterprises and Traditional Finance
3. Compliance Technology Development from the Perspective of National Security
4. Defining Regulatory Boundaries Under the Principle of Technological Neutrality

Insiders point out that if the bottom line of "what can and cannot be done" can be clarified, it will greatly enhance industry confidence.

The Mystery of Government Crypto Asset Holdings

Aside from the regulatory blueprint, another highly anticipated part of the report is the first official disclosure of the U.S. government's holdings in digital assets.

For a long time, the claim that "the U.S. government holds the most Bitcoin in the world" has been widely circulated. According to estimates from a certain platform, the U.S. government's holdings are about 198,000 BTC, far exceeding other countries.

However, recent data obtained through the Freedom of Information Act shows that the Department of Justice holds only 28,988 bitcoins. This significant gap has raised questions in the market.

Some analyses suggest that official data may only reflect a portion of liquid assets, excluding those that are frozen, used for compensation, or held by other institutions. This also means that the number of bitcoins available for "national strategic reserves" may be far lower than what outsiders imagine.

The upcoming White House report is expected to reveal the true amount of Bitcoin held by the U.S. government and provide an official explanation for these "missing" Bitcoins.

Industry Response is Positive

The industry response to this upcoming report is generally positive. Some believe it marks the substantive implementation phase of the cryptocurrency executive order, while others see it as an important step for the government to fulfill its commitments to the cryptocurrency industry.

Some analysts believe that we are currently at a turning point in the cryptocurrency industry, moving from "trying" to "acceptance and adoption," comparable to the "ChatGPT moment in the crypto world."

With regulatory expectations becoming clearer and institutional entry accelerating, the price of Bitcoin has recently rebounded strongly, briefly breaking through the $120,000 mark. As of the time of writing, it remains stable above $117,000, with a total market capitalization of $3.85 trillion.

This report is not only a systematic presentation of the current government’s cryptocurrency policy but also an important moment for the global cryptocurrency market. How will it seek to balance encouraging innovation and preventing risks? Can it address the trust gap concerning the U.S. strategic holdings? These answers will soon be revealed.