On July 30 (Eastern Time), a highly anticipated document is set to be released—the White House’s first-ever policy report on digital assets. Not only does it represent the Trump administration’s first systematic stance on crypto regulation, but it is also expected to serve as a roadmap for the industry’s development in the coming years.

Amid multiple legislative advancements and regulatory debates, this report stands out, with potential implications extending far beyond regulation itself.

The "Top-Level Design" Born from an Executive Order: Tracing Back to EO 14178
In January of this year, U.S. President Trump signed Executive Order 14178, formally establishing the Presidential Digital Asset Task Force, led by the Treasury Secretary. The group includes key regulators such as the SEC Chair and the Secretary of Commerce, with a mandate to comprehensively assess the state of digital assets and propose targeted policy recommendations.

After 180 days of preparation, this landmark report is finally ready. Bo Hines, the White House’s Executive Director for Crypto Affairs, confirmed on social media that the report will be released on July 30, stating that "the U.S. is leading the global digital asset policy wave."

The timing of the report’s release is particularly strategic—critical legislation like the GENIUS Act and the CLARITY Act is making substantial progress. The dual-track push of executive orders and legislation sends a strong policy signal: the U.S. is no longer on the sidelines but is fully engaging in digital asset governance.

Industry Focus: The Dawn of a "Clear Rules" Era
After years of regulatory ambiguity and fragmented oversight, the industry’s most urgent expectations for this report center on clarity and defined boundaries.

Cody Carbone, CEO of the Chamber of Digital Commerce, stated bluntly: "This will be the guiding document for all related regulations and guidelines over the next three and a half years."

Based on available information, the report is expected to focus on four key areas:

1. Stablecoin Regulatory Framework

   • The report may outline issuance thresholds, reserve mechanisms, and audit transparency for dollar-pegged stablecoins, laying the foundation for the rapidly growing stablecoin ecosystem.

2. Banking Access & Collaboration Mechanisms

   • Addressing the "legal identity" of crypto firms in securing bank accounts and payment channels, the report could propose policies for integration with traditional finance while strengthening risk isolation.

3. National Security Perspective

   • Highlighting compliance technology for cross-border transactions, sanctions evasion, and anti-money laundering risks, the report may push for aligning technical solutions with regulatory needs.

4. Technology-Neutral Regulation & Boundary Definition

   • The principle of "regulating by function, not technology" is expected to be a core theme, clarifying jurisdictional boundaries to resolve long-standing issues of "regulatory overlap" and "gaps."

As Carbone noted, clearly defining what is permitted and prohibited would significantly boost industry confidence.

The Holdings Mystery: How Much BTC Does the U.S. Government Actually Own?
Beyond regulatory blueprints, another highly anticipated section of the report is the first official disclosure of the U.S. government’s crypto asset holdings.

For years, claims that "the U.S. government holds the world’s largest Bitcoin stash" have circulated widely. According to BitcoinTreasuries, the U.S. government holds an estimated 198,000 BTC, far surpassing other nations.

However, independent journalist L0la L33tz recently filed a Freedom of Information Act (FOIA) request to the Department of Justice (DOJ), which revealed that the DOJ holds only 28,988 BTC—far below market expectations. This sparked questions like, "Were nearly 170,000 BTC sold?"

A more neutral explanation comes from community member Shifu Dumo, who argues that the FOIA data only reflects liquid holdings under the U.S. Marshals Service (USMS). Some assets may be frozen, earmarked for victim compensation, or held by other agencies, thus not included in the DOJ’s records.

Still, this suggests that the actual amount of BTC owned by the federal government and available for "national strategic reserves" may be much lower than speculated.

Crypto commentator "The ₿itcoin Therapist" directly asked Bo Hines on social media:
"How much Bitcoin does the U.S. government hold? Isn’t it important to disclose this?"
This question captures the community’s hunger for transparency.

The upcoming White House report is expected to reveal the true scale of U.S. Bitcoin holdings and provide an official explanation for the "missing" BTC, finally addressing a long-standing market mystery.

Industry Reaction: A Signal of the "Adoption Phase"
The industry has largely responded positively to the impending report. Summer Mersinger, CEO of the Blockchain Association, sees it as a sign that the crypto executive order is moving into implementation.

Ron Hammond, Policy Lead at Wintermute, calls the report "a critical step in Trump fulfilling his promises to the crypto industry."

Jordi Visser, Managing Director at 22V Research, believes we are at an inflection point where crypto is transitioning from "experimentation" to "acceptance and adoption." He compares this phase to "crypto’s ChatGPT moment."

With regulatory clarity improving and institutional participation accelerating, Bitcoin’s price has rebounded strongly, briefly surpassing $120,000 and stabilizing above $117,000 at press time, with a total market cap of $3.85 trillion.

This report is not just a systematic presentation of the Trump administration’s crypto policies—it represents a pivotal "moment" for the global crypto market. How will it balance innovation and risk mitigation? Can it bridge the trust gap around U.S. strategic holdings? The answers are coming soon.

On July 30 (Eastern Time), a highly anticipated document is set to be released—the White House’s first-ever policy report on digital assets. Not only does it represent the Trump administration’s first systematic stance on crypto regulation, but it is also expected to serve as a roadmap for the industry’s development in the coming years.

Amid multiple legislative advancements and regulatory debates, this report stands out, with potential implications extending far beyond regulation itself.

The "Top-Level Design" Born from an Executive Order: Tracing Back to EO 14178
In January of this year, U.S. President Trump signed Executive Order 14178, formally establishing the Presidential Digital Asset Task Force, led by the Treasury Secretary. The group includes key regulators such as the SEC Chair and the Secretary of Commerce, with a mandate to comprehensively assess the state of digital assets and propose targeted policy recommendations.

After 180 days of preparation, this landmark report is finally ready. Bo Hines, the White House’s Executive Director for Crypto Affairs, confirmed on social media that the report will be released on July 30, stating that "the U.S. is leading the global digital asset policy wave."

The timing of the report’s release is particularly strategic—critical legislation like the GENIUS Act and the CLARITY Act is making substantial progress. The dual-track push of executive orders and legislation sends a strong policy signal: the U.S. is no longer on the sidelines but is fully engaging in digital asset governance.

Industry Focus: The Dawn of a "Clear Rules" Era
After years of regulatory ambiguity and fragmented oversight, the industry’s most urgent expectations for this report center on clarity and defined boundaries.

Cody Carbone, CEO of the Chamber of Digital Commerce, stated bluntly: "This will be the guiding document for all related regulations and guidelines over the next three and a half years."

Based on available information, the report is expected to focus on four key areas:

1. Stablecoin Regulatory Framework

   • The report may outline issuance thresholds, reserve mechanisms, and audit transparency for dollar-pegged stablecoins, laying the foundation for the rapidly growing stablecoin ecosystem.

2. Banking Access & Collaboration Mechanisms

   • Addressing the "legal identity" of crypto firms in securing bank accounts and payment channels, the report could propose policies for integration with traditional finance while strengthening risk isolation.

3. National Security Perspective

   • Highlighting compliance technology for cross-border transactions, sanctions evasion, and anti-money laundering risks, the report may push for aligning technical solutions with regulatory needs.

4. Technology-Neutral Regulation & Boundary Definition

   • The principle of "regulating by function, not technology" is expected to be a core theme, clarifying jurisdictional boundaries to resolve long-standing issues of "regulatory overlap" and "gaps."

As Carbone noted, clearly defining what is permitted and prohibited would significantly boost industry confidence.

The Holdings Mystery: How Much BTC Does the U.S. Government Actually Own?
Beyond regulatory blueprints, another highly anticipated section of the report is the first official disclosure of the U.S. government’s crypto asset holdings.

For years, claims that "the U.S. government holds the world’s largest Bitcoin stash" have circulated widely. According to BitcoinTreasuries, the U.S. government holds an estimated 198,000 BTC, far surpassing other nations.

However, independent journalist L0la L33tz recently filed a Freedom of Information Act (FOIA) request to the Department of Justice (DOJ), which revealed that the DOJ holds only 28,988 BTC—far below market expectations. This sparked questions like, "Were nearly 170,000 BTC sold?"

A more neutral explanation comes from community member Shifu Dumo, who argues that the FOIA data only reflects liquid holdings under the U.S. Marshals Service (USMS). Some assets may be frozen, earmarked for victim compensation, or held by other agencies, thus not included in the DOJ’s records.

Still, this suggests that the actual amount of BTC owned by the federal government and available for "national strategic reserves" may be much lower than speculated.

Crypto commentator "The ₿itcoin Therapist" directly asked Bo Hines on social media:
"How much Bitcoin does the U.S. government hold? Isn’t it important to disclose this?"
This question captures the community’s hunger for transparency.

The upcoming White House report is expected to reveal the true scale of U.S. Bitcoin holdings and provide an official explanation for the "missing" BTC, finally addressing a long-standing market mystery.

Industry Reaction: A Signal of the "Adoption Phase"
The industry has largely responded positively to the impending report. Summer Mersinger, CEO of the Blockchain Association, sees it as a sign that the crypto executive order is moving into implementation.

Ron Hammond, Policy Lead at Wintermute, calls the report "a critical step in Trump fulfilling his promises to the crypto industry."

Jordi Visser, Managing Director at 22V Research, believes we are at an inflection point where crypto is transitioning from "experimentation" to "acceptance and adoption." He compares this phase to "crypto’s ChatGPT moment."

With regulatory clarity improving and institutional participation accelerating, Bitcoin’s price has rebounded strongly, briefly surpassing $120,000 and stabilizing above $117,000 at press time, with a total market cap of $3.85 trillion.

This report is not just a systematic presentation of the Trump administration’s crypto policies—it represents a pivotal "moment" for the global crypto market. How will it balance innovation and risk mitigation? Can it bridge the trust gap around U.S. strategic holdings? The answers are coming soon.