The White House released a digital asset report, but there was no substantial update on the Bitcoin reserve plan.

PANews reported on July 31st that the White House released its long-awaited digital asset report, outlining a national strategy to position the United States for global leadership in blockchain, cryptocurrency markets, and tokenized finance. While the report covers a wide range of digital asset policy areas, it does not provide a substantive update on the government's planned Bitcoin reserve, merely reiterating the language in President Trump's January executive order without outlining next steps or a timeline for implementation. The report follows an executive order signed by President Trump in January establishing an interagency working group on digital assets and emerging technologies such as artificial intelligence. Led by David Sacks, White House Director of Cryptocurrency and Artificial Intelligence, and Executive Director Bo Hines, the 166-page document incorporates input from the Treasury Department, the Commerce Department, the U.S. Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC), and lays out proposals to streamline regulation, support innovation, and modernize regulations. The report recommends that Congress develop legislation to empower the Commodity Futures Trading Commission (CFTC) to regulate the spot market for non-security digital assets and support the development of decentralized finance (DeFi) technologies. The report also calls on the Securities and Exchange Commission (SEC) and the CFTC to use their existing authority to clarify regulatory rules for digital asset trading and promote the implementation of innovative financial products. Furthermore, the working group recommends that regulators promote digital asset-related innovation in the banking industry, implement a federal regulatory framework for stablecoins, and strengthen anti-money laundering regulations to safeguard national security. The report emphasizes the need for the United States to maintain its leading position in digital assets and blockchain technology through legislative and regulatory innovation.

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