White House to Release First Cryptocurrency Policy Report

The White House’s inaugural cryptocurrency policy report, spearheaded by the Digital Asset Markets Working Group, is set for submission on July 22, with public release by month’s end.

Impacting Bitcoin regulations and liquidity, the report aims to remove banking restrictions and establish institutional reserves.

White House’s Crypto Report to Reshape Bitcoin Liquidity

The White House Digital Asset Markets Working Group, led by David Sacks, is finalizing its first cryptocurrency policy report. Eleven federal agencies participate, excluding traditional banking regulators, to ensure an inventive policy approach.

This initiative seeks to ease banking restrictions, enhance Bitcoin liquidity, and introduce institutional reserves. The GENIUS Act complements this by regulating stablecoin reserves with FDIC, OCC, and Fed oversight.

David Sacks, Leader of the White House Digital Asset Markets Working Group, former PayPal Executive, said, “The report will be officially submitted tomorrow (local time July 22), but White House officials told me it will be made public before the end of this month.”

U.S. to Acquire 1 Million BTC: Historical Context & Analysis

Did you know? The White House, under President Trump’s administration, aims to acquire up to 1 million BTC over five years, a precedent-setting commitment to digital asset reserves.

According to CoinMarketCap, Bitcoin currently trades at $117,538.99, with a market cap of $2.34 trillion. Bitcoin’s market dominance sits at 59.77%, with a 24-hour trading volume increase of 21.86%, reflecting significant price changes over recent months.

The Coincu research team foresees regulatory changes favoring capital inflows, potentially reversing past banking restrictions. Enhanced inter-agency cooperation could foster a more supportive environment for cryptocurrency innovation.