On July 31, the White House released the long-awaited digital asset report, which outlines a national strategy aimed at positioning the United States as a global leader in Blockchain, Crypto Assets markets, and tokenization finance. Although the report covers a wide range of digital asset policy areas, it does not provide substantial updates on the government's plans for Bitcoin reserves, merely reiterating the statements in President Trump's January executive order without listing follow-up steps or implementation timelines. The issuance of this report stems from an executive order signed by President Trump in January, which established a cross-departmental working group on emerging technologies such as digital assets and artificial intelligence. This 166-page document was led by David Sacks, the White House's head of cryptocurrency and artificial intelligence affairs, and Executive Director Bo Hines, incorporating opinions from the Treasury Department, the Department of Commerce, the SEC, and the Commodity Futures Trading Commission (CFTC), listing multiple proposals regarding regulatory simplification, support for innovation, and the realization of regulatory modernization. The report recommends that Congress refine legislation to grant the CFTC the authority to regulate the non-securities digital asset spot market and support the development of Decentralized Finance (DeFi) technologies. The report also calls for the SEC and CFTC to utilize existing authority to clarify regulatory rules for digital asset trading and promote the rollout of innovative financial products. Additionally, the working group suggests that regulatory agencies advance banking-related innovations in digital assets, implement a stablecoin federal regulatory framework, and strengthen AML regulations to safeguard national security. The report emphasizes that the U.S. must ensure its leading position in digital assets and Blockchain technology through legislative and regulatory innovation.

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