On July 30, the Trump administration released a 166-page report on digital assets. This is the most comprehensive document on crypto policy in recent years — with ambitious reforms, support for innovation, stablecoins, and a new regulatory vector.
But one thing surprised the entire industry — there is no mention of the promised Strategic Bitcoin Reserve in the report.
🔍 What's in the report:
✅ Clear regulatory framework:
• Support for the Digital Asset Market Transparency Act
• Strengthening the role of the CFTC in regulating the spot market
• Direct request to the SEC and CFTC to provide clarity regarding the storage, trading, and registration of crypto assets
✅ Innovations and DeFi:
• Call for the creation of 'safe harbors' for startups
• Support for DeFi — not through bans, but through controlled implementation
✅ Stablecoins — yes, CBDC — no:
• The law to regulate stablecoins has already been passed
• CBDC — prohibited. The USA does not plan a digital dollar
✅ Banking and tax policy:
• Simplification of access for crypto companies to banking infrastructure
• Clarity regarding taxation: cryptocurrencies are recognized as a separate class of assets
• Recommendations for closing tax loopholes (for example, in trading with losses)
❗️What about the Bitcoin reserve?
In March, Trump signed a decree to create a Strategic Bitcoin Reserve. But despite expectations, there is not a word about its implementation in the report:
• No deadlines
• No buyback volumes
• No strategic goals
This raises the question: will the creation of the reserve be postponed, or have they decided to present it separately — for example, closer to the budget or international negotiations?
Analysts suggest: the BTC reserve is still in place; it will just be moved to a separate information block.
📊 Market background: Ethereum is ahead, BTC is under pressure
🔹 ETH ETF:
• 19 consecutive days of inflow growth
• $5.3 billion in July
• ETH attracted $219 million compared to $80 million in BTC ETF over the last period
• $2.3 billion — just in the last 7 days
🔹 Syz Capital raises $200 million in a BTC fund (1,800 BTC already confirmed)
🔹 The Fed did not change the rate:
• BTC rose to $118,752 (+0.5%)
• ETH — +1.4%
🔹 July 29 — first outflow from BTC ETF in 12 days: -$131 million
Possible profit-taking or the beginning of a consolidation phase
📌 Conclusion:
The White House report is a signal that the USA is officially becoming a crypto-friendly jurisdiction:
• Transparent rules
• Support for innovation
• Clear position regarding stablecoins
• And perhaps a powerful announcement regarding the state BTC reserve is being prepared
