The "Cryptocurrency Asset Policy Report" is likely the most important cryptocurrency policy of this week, especially concerning the #BTC strategic reserve direction. We will provide an overview and introduction, which is relevant to every cryptocurrency investor's wallet!

On July 22, the United States will release its first "Cryptocurrency Asset Policy Report," as mandated by EO14178 (signed on January 23, 2025). It will be drafted by the President's Digital Asset Working Group (led by David Sacks) and aims to establish a comprehensive federal regulatory framework for digital assets, highlighting the following key points:

🧭 Core Expected Content of the Report

1️⃣ Stablecoin Regulatory Framework 🪙

Building on the "GENIUS Act" (signed on July 18), the regulatory approach for stablecoins will be further clarified, including:

· 100% reserve backing (in USD or government bonds), disclosed monthly

· Earning interest on stablecoins will not be allowed

· Issuers should be regulated by the FDIC, OCC, and the Federal Reserve, creating a two-tier regulatory system (federal vs. state)

· The report may emphasize prohibiting Congress members from issuing stablecoins to prevent conflicts of interest.

2️⃣ #BTC Reserves & Digital Asset Hoarding

There may be proposals to establish a Federal Bitcoin Reserve (Strategic Bitcoin Reserve) or a digital asset inventory:

· Utilizing assets seized by the judicial department

· Or supplementing through criminal fines

I personally believe the likelihood of proactive fiscal purchases of #BTC is relatively low.

3️⃣ Bank and Crypto Service Access

· Reaffirming the need to provide fair access to banking services for compliant digital asset companies;

· Eliminating regulatory "stifling" behavior, encouraging banks to open accounts and custody for crypto companies

The SEC recently released SAB 122, lowering the capital requirements for financial institutions holding cryptocurrency assets.

This is likely to stimulate strong connections between cryptocurrencies and traditional finance, promoting the integration of credit, wealth management, and other traditional financial practices.

4️⃣ Clear Jurisdiction & Federal Regulatory Framework

Emphasized in the January EO:

· Repeal previous policies (such as EO 14067, 2022 Treasury Framework)

· Prohibit the U.S. central bank from issuing CBDCs

· Require departments to inventory and revise policies within 30/60/180 days, establishing a technology-neutral regulatory framework with clear responsibilities.

5️⃣ Law Enforcement Priority Direction

· The DOJ will "stop relying on punitive regulation," focusing on investor harm (asset misappropriation, fraud, money laundering, etc.), rather than simple violations;

· The SEC and CFTC will collaborate to better delineate the boundaries of securities, futures, and banking regulation.

Recently, the SEC has been emphasizing the introduction of an "innovation exemption policy to incentivize the development of asset tokenization," which will greatly benefit a range of cryptocurrency innovation directions and stimulate growth.

6️⃣ International Coordination and Dollar Sovereignty

· Strengthening multinational coordination while taking a firmer stance on ensuring U.S. leadership in digital asset standards;

· Vigorously promoting dollar-denominated stablecoins to become the global mainstream, defending dollar sovereignty.

Therefore, it is essential to pay close attention to policy developments tomorrow. Clear regulation on stablecoin issuance can reduce risks and encourage both institutional and retail markets to enter more confidently. The government may indeed establish a Bitcoin reserve, which would provide long-term support for #BTC demand. The continued thawing of the banking sector may lead to improved liquidity and expanded financing channels. Clear allocations and regulations are expected to attract capital and boost investment sentiment. Overall, this is a significant positive development. Looking forward to smooth progress. 🧐

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