US President Donald Trump's policy on cryptocurrencies will become clearer with a detailed government report to be released on July 30th. However, a comprehensive plan for the "Strategic Bitcoin Reserve," a dream investors have long dreamed of, may not be included in this document.
The "Presidential Working Group on Digital Asset Markets," established by Trump's executive order in January, was tasked with preparing this report. In addition to establishing a proposed regulatory framework for crypto assets, the working group was responsible for developing criteria for a government-held digital asset reserve.
Cryptocurrencies and shares of publicly traded cryptocurrency companies like Coinbase have been on the rise since Trump took office in January. Bitcoin has gained 26% this year, reaching $123,000. During this period, many regulatory barriers have been removed, and barriers preventing banks and exchanges from operating with crypto have been reduced.
This report, to be released by the White House on July 30th, is being described by industry leaders as a "regulatory bible." The report states: It is expected to shed light on areas such as stablecoin regulations, crypto companies' access to the banking system, and the impact of virtual assets on national security.
However, the most interesting part of the report will be the government's cryptocurrency reserve strategy. In another executive order issued in March, Trump proposed the creation of a digital asset stockpile called the "Strategic Bitcoin Reserve." This stockpile will primarily consist of assets seized in operations by agencies such as the FBI and the Department of Justice.
However, officials state that this report will not directly outline a plan to purchase Bitcoin. According to a White House official, the primary goal of this report is to establish a clear and comprehensive regulatory framework. The details of the Bitcoin reserve rest with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The official said, "We will continue to work on funding mechanisms for the SBR (Strategic Bitcoin Reserve), but the Treasury will bear most of the burden."
The US government currently holds 198,012 Bitcoins, valued at approximately $23.2 billion. However, there's a key difference between "seized" and "transferred" Bitcoins. Officially, only assets whose ownership has been transferred are considered state-owned. Others are often used as compensation for victims or transferred to the treasury.
Crypto industry representatives believe this report will form the basis for regulatory changes not only today but also for the coming years. Cody Carbone, director of The Digital Chamber, states that clarity on tax policies is a top priority for the industry.
When might the report be released?
Details of the report will be shared with industry representatives at a briefing scheduled for 9:30 PM on Wednesday. However, it remains unclear whether the report will be released before or after the meeting. The Fed's interest rate decision will also be released at the same time. This means cryptocurrencies could have a very busy evening. The Trump administration continues its vision of making the US a leading cryptocurrency market. However, expectations regarding a Bitcoin buying strategy appear to be on hold for the time being.
