The White House is expected to release a statement on Wednesday, sparking discussion in the community about its details and impact on the cryptocurrency market.
(Source: Bitcoin Magazine on X)
What to Expect in the White House’s First Digital Assets Report
According to the buzz on the internet, the White House will release its first cryptocurrency report on July 30. The long-awaited report, delayed from its original last week’s Tuesday release date, will likely propose more details regarding the National Bitcoin Strategic Reserve, establishing a digital asset stockpile, and implementing new measures to prevent illegal crypto activities.
The White House’s report comes from the US President Donald Trump’s Working Group on Digital Assets, co-chaired by David Sacks and Bo Hines, and represents the administration’s most coordinated efforts yet to address the growing crypto economy while mitigating risks like sanctions evasion and financial crimes.
On July 18, the U.S. President made history by signing the GENIUS Act, the first major cryptocurrency legislation for USD-backed stablecoins. This act provides clear regulatory guidelines for stablecoin issuers, ending longstanding ambiguity.
Now, with the White House’s report on digital assets, the community is expecting a comprehensive federal framework for regulating digital assets, as mandated by Executive Order 14178 signed by President Trump on January 23, 2025.
Furthermore, there could be proposals for establishing a national digital asset, which could involve cryptocurrencies like Bitcoin, Ethereum, Solana, XRP, and Cardano, as mentioned by Trump earlier in his post.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” US President Donald Trump wrote in his earlier post on Truth Social.
However, there could be a big hurdle for XRP to achieve the tag of Strategic asset status due to the ongoing lawsuit against the Securities and Exchange Commission.
Judge Analisa Torres denied a joint settlement motion on June 26, wanting a proper court review. As of now, the SEC still has not officially dropped its appeal, as legal expert Marc Fagel says this bureaucratic process may take weeks. While Ripple has withdrawn its own appeal, the case needs final court approval.
Also Read: Stablecoins are Going Parabolic: Bitwise
