The White House is set to release its first digital asset policy report: Industry expectations and points of concern

On July 30, Eastern Time, an important document that has attracted significant attention from the cryptocurrency industry is about to be released—the White House's first digital asset policy report. This report is not only the government's first systematic elaboration on its regulatory stance towards cryptocurrencies but may also serve as a guiding document for the industry's development in the coming years.

In the midst of multiple legislative developments and regulatory games, this upcoming report is highly anticipated, and its impact may extend far beyond the regulatory scope.

From Executive Orders to Top-Level Design

In January of this year, the President signed Executive Order 14178, officially establishing the "President's Working Group on Digital Assets" led by the Secretary of the Treasury. The group includes several key regulators, whose task is to comprehensively assess the trends in the development of digital assets and propose corresponding policy recommendations.

After 180 days of preparation, this heavyweight report is finally about to be released. The White House's Director of Crypto Affairs has confirmed on social media that the report will be officially published on July 30 and stated that "the United States is leading the global digital asset policy trend."

The timing of the report's release is quite significant - several key legislations are making substantial breakthroughs, with a dual-track advancement of executive orders and legislation, sending a strong policy signal: the United States is no longer watching from the sidelines regarding the governance of digital assets, but is fully intervening.

Industry Expectations: The Era of Clear Regulation Has Arrived

After years of regulatory ambiguity and competing interests, the industry's most urgent expectations for this report focus on "clarity" and "sense of boundaries."

Industry insiders bluntly stated: this will be "the programmatic document for all relevant regulations and guidelines in 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. National Security Perspective
4. Technological Neutrality and Regulatory Boundary Definition

Industry 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 Holdings: How Much Bitcoin Does the U.S. Own?

In addition to the regulatory blueprint, another part of the report that has attracted significant attention is the first official disclosure of the U.S. government's holdings of digital assets.

For a long time, there has been a saying on the internet that "the U.S. government holds the most Bitcoin in the world." According to estimates from a data platform, the U.S. government's holdings amount to about 198,000 BTC, far exceeding those of other countries.

However, recent data obtained through the Freedom of Information Act shows that the Department of Justice only has 28,988 bitcoins. This number is far below market expectations, leading to much speculation.

Some analyses suggest that this data may only reflect a portion of the liquid assets, while other assets may have been frozen, used for compensation, or held by other institutions.

However, this also means that the amount of Bitcoin truly belonging to the U.S. federal government, which can be used for "national strategic reserves," may be far lower than what the outside world imagines.

Industry Reaction: Signals of Entering the "Adoption Phase"

The industry response to this upcoming report is generally positive. Some believe that this marks the substantial implementation phase of the cryptocurrency executive order.

Some analysts also compare the current stage to the "ChatGPT moment of the crypto world," believing that we are at a turning point in the crypto industry, moving from "experimentation" to "acceptance and adoption."

With regulatory expectations becoming clearer and the pace of institutional entry accelerating, the price of Bitcoin has recently rebounded strongly, briefly breaking through the $120,000 barrier. 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? And can it address the trust gap regarding the U.S. strategic holdings? These answers are about to be revealed.