The White House's first digital asset policy report is about to be released: industry expectations and questions coexist.

On July 30, the White House's first digital asset policy report, highly anticipated by the crypto industry, is set to be released. This report is not only the first systematic articulation of the U.S. government's regulatory stance on cryptocurrencies but is also seen as an important document that may guide the industry's development direction in the coming years.

Amidst multiple legislative developments and regulatory games, this upcoming report has garnered significant attention, and its influence may extend far beyond the regulatory scope.

From executive orders to top-level design

In January of this year, the President of the United States signed Executive Order 14178, officially establishing the "Presidential Task Force on Digital Assets" led by the Secretary of the Treasury. The members of this group include several core regulators whose mission is to comprehensively assess the development trends of digital assets and propose corresponding policy recommendations.

After 180 days of preparation, this significant report is finally about to be released. Relevant officials from the White House have confirmed on social media that the report will be officially published on July 30, stating that "the United States is leading the global digital asset policy trend."

The timing of the report's release is quite significant - several key legislations are making substantial breakthroughs. The dual advancement of executive orders and legislation sends a strong policy signal: the United States has fully intervened in the governance of digital assets.

Industry Focus Core: Regulatory Clarity

After years of regulatory ambiguity and various negotiations, the industry's most urgent expectations for this report focus on "clarity" and "sense of boundaries."

A leader of an industry association stated that this will be "a programmatic document for all relevant regulations and guidelines in the next three and a half years."

According to the existing information, the report is expected to focus on the following four major areas:

1. Stablecoin Regulatory Framework
2. Cooperation Mechanism between Crypto Enterprises and Traditional Financial Institutions
3. Risk Control from the Perspective of National Security
4. Defining Regulatory Boundaries under the Principle of Technological Neutrality

Insiders point out that clarifying the bottom line of "what can and cannot be done" will greatly enhance industry confidence.

The Mystery of Government Crypto Asset Holdings

Apart from the regulatory blueprint, another highly anticipated part of the report is the first official disclosure of the U.S. government's holdings of digital assets.

For a long time, the claim that "the U.S. government holds the most Bitcoin in the world" has been widely circulated. However, recent data obtained through the Freedom of Information Act shows that the Department of Justice only holds 28,988 Bitcoins, far below market expectations.

This difference has sparked numerous speculations. Some believe that the publicly available data may only reflect a portion of the liquid assets, while other assets may be frozen, used for compensation, or held by other institutions.

In any case, this means that the number of bitcoins available for the "national strategic reserve" by the US federal government may be far lower than the outside world imagines.

Industry Response: Moving Towards Adoption Period

The industry response to the upcoming report is generally positive. Many industry insiders believe that this marks a substantial step in the implementation phase of the cryptocurrency executive order and is an important step for the government to fulfill its commitments to the cryptocurrency industry.

Some analysts compare the current stage to the "ChatGPT moment of the crypto world", believing that the industry is moving from "experimenting" to "acceptance and adoption".

As regulatory expectations become clearer and institutional entry accelerates, the price of Bitcoin has recently rebounded strongly, briefly breaking through the $120,000 mark. As of the time of writing, the price of Bitcoin remains stable above $117,000, with a total market capitalization of $3.85 trillion.

This report is not only a systematic presentation of the U.S. government's cryptocurrency policy but also an important milestone in the global cryptocurrency market. How will it seek a balance between encouraging innovation and preventing risks? Can it address the trust gap regarding government strategic holdings? These answers will soon be revealed.