PANews reported on July 31 that the White House released a long-awaited digital asset report, which established a national strategy aimed at positioning the United States as a global leader in blockchain, cryptocurrency markets, and tokenized finance. Although the report covered a broad range of digital asset policy areas, it did not provide substantial updates on government plans for Bitcoin reserves, merely reiterating the language from President Trump's January executive order without listing subsequent steps or implementation timelines. The report originated from an executive order signed by President Trump in January, which established an interagency working group on emerging technologies such as digital assets and artificial intelligence. This 166-page document, led by White House Cryptocurrency and AI Affairs Head David Sacks and Executive Director Bo Hines, integrated opinions from the Treasury Department, Commerce Department, Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC), outlining multiple proposals for streamlining regulation, supporting innovation, and modernizing oversight.
The report recommends that Congress improve legislation to grant the CFTC the power to regulate non-security digital asset spot markets and support the development of DeFi technology. The report also calls on the SEC and CFTC to utilize existing authorities to clarify regulatory rules for digital asset transactions and promote innovative financial products. Additionally, the working group suggests that regulators advance digital asset-related innovations in banking, implement a federal stablecoin regulatory framework, and strengthen anti-money laundering regulations to ensure national security. The report emphasizes that the United States needs to secure its leadership in digital assets and blockchain technology through legislative and regulatory innovation.
