Foresight News reports that the Trump administration's Digital Asset Working Group is intensifying preparations to submit its first important cryptocurrency policy report by July 22. This report is the result of months of collaboration between Working Group Chairman David Sacks, Bo Hines, and senior officials from the Treasury Department, Commerce Department, SEC, CFTC, and other agencies, aimed at implementing the executive order signed by President Trump in January to strengthen the United States' leadership in the cryptocurrency sector. The report is expected to include regulatory and legislative recommendations, but specific details are not yet clear.
The working group's original tasks included developing a federal digital asset framework covering stablecoins (Congress has already initiated related procedures) and exploring whether to establish a national digital asset reserve (which Trump set up in March). Working group member and CFTC Acting Chairman Caroline Pham stated in a recent speech that the report will serve as the government's 'cryptocurrency roadmap' and described the current work as 'productive.' White House officials have indicated that the report will be released as scheduled before the July 22 deadline. Although the details of the report have not yet been disclosed, industry insiders speculate that it may include: a strategic Bitcoin reserve fundraising plan that does not increase taxpayer burdens, as well as recommendations to ensure that crypto companies can access banking services from institutions like the Federal Reserve fairly— as the Federal Reserve has historically refused to allow crypto companies direct access to its payment systems.
