The first White House digital asset policy report is about to be released: industry expectations and impacts

On July 30, the highly anticipated first digital asset policy report from the White House, which has drawn significant attention from the cryptocurrency industry, is set to be released. This report not only represents the government's first systematic articulation of its stance on cryptocurrency regulation but may also become a guiding document for the industry's development in the coming years.

In the context of multiple legislative progress and regulatory games, the importance of this report is particularly highlighted, and its impact may extend beyond the scope of regulation.

From Executive Orders to Top-Level Design

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

After 180 days of preparation, this important report is finally about to be released. The White House Director of Crypto Affairs has confirmed on social media that the report 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 breakthroughs in several key legislations, the dual push of executive orders and legislation, sending a strong policy signal: the United States has fully intervened in the governance of digital assets.

Core Focus of the Industry: Clarification of Regulations

After a long period of regulatory ambiguity and bull market struggles, the industry's most pressing expectations for this report focus on "clarity" and "a sense of boundaries."

The CEO of the American Digital Chamber stated that this will be "the guiding document for all relevant regulations and guidance over the next three and a half years."

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

1. Stablecoin Regulatory Framework
2. Bank Access and Cooperation Mechanism
3. A National Security Perspective
4. Technological Neutrality and Regulatory Boundary Definition

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

The Mystery of Government Cryptocurrency Holdings

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

For a long time, the claim that "the US government holds the most Bitcoin in the world" has been widely circulated. However, recent data obtained through the Freedom of Information Act shows that the Department of Justice only holds 28,988 Bitcoins, which is far lower than market expectations.

In this regard, community users suggested that this may only reflect a portion of the liquid assets, while other assets may have been frozen, used for compensation, or held by other institutions.

The upcoming White House report is expected to reveal the true extent of the U.S. government's Bitcoin holdings and provide an official explanation for the "missing" Bitcoins.

Industry Reaction: Entering the "Adoption Phase"

The industry response to this upcoming report is generally positive. The CEO of the Blockchain Association believes that it signifies the substantial implementation phase of the cryptocurrency executive order.

The managing director of a research institution compared the current stage to the "ChatGPT moment in the crypto world," believing that we are at a turning point in the cryptocurrency industry moving from "experimentation" to "acceptance and adoption."

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 government's cryptocurrency policies but also an important moment for the global crypto market. How will it find a balance between encouraging innovation and preventing risks? Will it be able to address the trust gap regarding the U.S. strategic holdings? These answers will soon be revealed.