- Bitcoin Reserve omission signals possible policy shift or internal disagreement.
- Report emphasizes regulation, innovation, and oversight over asset accumulation.
- Stablecoins supported; CBDCs rejected over surveillance and control concerns.
The Trump administration has unveiled its long-anticipated digital asset policy report, but it lacks any reference to a proposed Bitcoin Reserve. The omission comes despite earlier commitments by President Donald Trump to create a national reserve of Bitcoin and other digital assets.
Trump’s Crypto Strategy Skips Bitcoin Reserve Mention
The 120-page report, released on July 30 by the White House Working Group on Digital Asset Markets, lays out a roadmap for regulatory reform but does not address this highly publicized plan.
🚨🇺🇸 TRUMP ADMIN RELEASES DIGITAL ASSET POLICY REPORT—NO BITCOIN RESERVE MENTIONED
The Trump administration dropped its long-awaited crypto report on July 30.
At 120 pages, it outlines rules for stablecoins, token classification, and global cooperation—but skips any clear… pic.twitter.com/5h6jVTE5QG
— Crypto Jargon (@Crypto_Jargon) July 30, 2025
Regulatory Push Gains Focus in Report
Instead of detailing a Bitcoin Reserve, the report emphasizes regulatory clarity, innovation, and market oversight. It urges Congress to pass the Digital Asset Market Clarity Act, which would give the Commodity Futures Trading Commission (CFTC) authority over spot markets for non-security digital assets.
This measure aims to close loopholes in regulatory jurisdiction between the CFTC and the Securities and Exchange Commission (SEC).
The report also calls on both agencies to use their existing powers to issue clearer rules around trading, registration, custody, and recordkeeping. By reducing delays and ambiguity, the administration believes digital asset companies will have the guidance needed to operate efficiently within legal boundaries.
Bitcoin Reserve Plan Left Unexplained
Notably absent is any mention of the Bitcoin Reserve initiative, first introduced in an executive order signed by Trump earlier this year. That order had called for the creation of a national Bitcoin stockpile and a broader digital asset reserve to bolster America’s leadership in blockchain finance. The lack of follow-up in this report has left analysts questioning the initiative’s future.
Without timelines, budget allocations, or implementation details, the idea of a strategic Bitcoin Reserve appears to be in limbo. Observers suggest the omission could signal a pivot in strategy or internal disagreement over its feasibility.
Support for Stablecoins, Not for CBDCs
The report also puts a strong emphasis on USD-backed stablecoins because they are essential to sustain the dollar position in the worldwide digital finance environment. It calls on the fast track of the recently legislated GENIUS Act, which incentivizes adoption of use of stablecoins in local and cross-border payments.
Simultaneously, the government does not support the digital currency of the central bank (CBDC) by setting a boundary line. Like Trump, the report opposes CBDCs on the basis of potential surveillance and government power now emphasizing the “Anti-CBDC Surveillance State Act” that would make CBDCs illegal.
Tax Reform and Banking Clarity Addressed
The report proposes that digital assets be treated as a distinct class under the federal tax code. It recommends updated rules for wash sales and alternative minimum tax, as well as revised IRS guidance on crypto activities like staking and mining.
In banking, regulators are advised to explicate how bankable blockchain-based companies and activities can be realized and also how crypto firms can access, bank charters. This will help companies such as Ripple and Circle in making their way around regulatory rules in their national banking license applications.
The report further adds to be in concert with the Bank Secrecy Act by advocating greater transparency as a means of fighting money laundering. It advocates accelerated regulatory procedures so that consumers could get access to newer forms of financial technologies quicker.
Conclusion: The report released by the Trump administration presents a grand vision of how the digital asset sector should be treated, but it is still surprising that the plan to introduce the Bitcoin Reserve was not on the list. Clear regulations, tax reform, and innovation are highlighted in the document, yet one of the most ambitious crypto ideas promoted by Trump is not mentioned in it. It remains to be seen whether the reserve proposal becomes revived in subsequent legislation or disappears.
