In a move that was anticipated by many within the cryptocurrency realm, the White House has unveiled its comprehensive crypto strategy report. Yet, for those hoping to glean new insights, the document—spanning a hefty 163 pages—offers little in the way of groundbreaking revelations. The report, released on July 30, 2025, serves more as a barometer for the current administration’s progress rather than a treasure trove of new initiatives, leaving the question of federal Bitcoin reserves shrouded in obscurity.
The State of Crypto Policy
The report claims to be the most detailed account of President Donald Trump’s crypto strategy to date. It outlines major policy efforts, such as the GENIUS Act, which mandates regulations for stablecoin issuers, and the Clarity Act, poised to establish rules for the broader crypto markets. Both have significantly advanced through legislative channels, marking a distinct shift from the previous administration under President Joe Biden.
Though the document touches on the concept of national crypto reserves, it does so with frustrating brevity. The initiative, which includes stockpiles for Bitcoin and other digital assets, barely makes it to the last page. According to Bo Hines, one of Trump’s primary crypto advisers, the infrastructure for such reserves is in the works but remains under wraps for now. Hines hinted that more details could emerge soon, but the lack of transparency has left many in the crypto community vexed. For more on Hines’ assurances about the future of U.S. crypto reserves, see Trump’s Top Crypto Guys: U.S. DeFi Will Thrive, Assures Bitcoin Reserve Is Coming.
Calls for Regulatory Action
Interestingly, the report appears to be a clarion call for regulators. It encourages the SEC and CFTC to leverage their existing powers to facilitate digital asset trading at the federal level. This comes at a time when the CFTC is still awaiting permanent leadership, adding an extra layer of complexity to the regulatory landscape. For insights into the delays in appointing a permanent crypto watchdog, refer to Quintenz, Trump’s Pick as Potential U.S. Crypto Watchdog, Delayed by White House.
Paul Atkins, the SEC Chairman, noted, “As the report makes clear, the SEC will continue to play a key role in developing a federal framework by using its existing authorities to establish new rules and regulations, and to implement any new legislation crafted by Congress.” His words offer a glimpse into the regulatory momentum that may be gathering speed, even as Congress continues its work on market structure legislation.
Tax Revisions and Industry Reactions
The document doesn’t shy away from the thorny issue of crypto taxation either. It mirrors several proposals from Senator Cynthia Lummis, who leads the Senate Banking Committee’s subcommittee on digital assets. Her legislative package aims to alleviate tax burdens on crypto users by setting thresholds for capital gains and revising the tax treatment of staking rewards.
Ji Kim, the new permanent CEO of the Crypto Council for Innovation, lauded the report as a constructive step forward. He noted, “By addressing critical areas such as decentralization, market structure, tax, GENIUS implementation, global competitiveness, and much more, this report offers a constructive path forward that supports responsible innovation and the long-term strength of America’s role and leadership in the digital economy.”
Looking Forward
As the crypto world digests the implications of this report, the question of federal Bitcoin reserves lingers unanswered. With stakeholders yearning for clarity, the industry’s eyes are fixed on potential future disclosures that could shed light on this enigmatic aspect of the administration’s crypto strategy.
The stakes are high, and the path forward remains fraught with uncertainty. As Congress and federal agencies grapple with these evolving dynamics, the crypto community will be watching closely, eager to see how these policies unfold and what they mean for the future of digital currencies in the United States.
Source
This article is based on: No U.S. Bitcoin Reserve Plans as White House Touts Crypto Report
Further Reading
Deepen your understanding with these related articles:
- Trump’s Truth Social Bitcoin ETF among multiple crypto funds delayed by SEC
- SEC Delays Truth Social Bitcoin ETF Decision — New Deadline Sparks Crypto Startup Buzz
- SEC Delays Decision on Trump-Linked Truth Social Bitcoin ETF Until September
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
