The Crypto Asset Policy Report should be the most important crypto policy of this week, especially regarding the direction of BTC strategic reserves. We will provide an overview and introduction, which relates to the wallets of every cryptocurrency investor! The first Crypto Asset Policy Report to be released by the United States on July 22 is based on the requirements of EO14178 (signed on January 23, 2025). It will be developed by the Presidential Digital Assets Working Group (led by David Sacks) with the aim of establishing a comprehensive federal regulatory framework for digital assets and highlighting the following key elements: 🧭 Core expected content of the report one ️⃣ Regulatory Framework for Stablecoins 🪙 On the basis of the GENIUS Act (signed on July 18th), the regulatory approach for stablecoins will be further clarified, including: ·100% reserve support (USD or treasury bond), publicly disclosed monthly ·Not allowed to earn interest with stablecoins ·The issuer should be regulated by FDIC, OCC, and Federal Reserve, and establish a two-tier regulatory system (federal vs. state) ·The report may emphasize prohibiting members of Congress from issuing stablecoins themselves to prevent conflicts of interest. two ️⃣ BTC reserves&digital asset hoarding Possible plans to establish a Federal Strategic Bitcoin Reserve or a digital asset inventory: ·Utilizing the judicial department to seize assets ·Or supplemented by criminal fines In my personal opinion, the likelihood of actively purchasing BTC through financial means is relatively low. three ️⃣ Bank and encryption service access ·Reiterate the need to provide fair access to banking services for compliant digital asset enterprises; ·To eliminate regulatory "strangulation" behavior and encourage banks to open accounts and custody for cryptocurrency enterprises The SEC recently issued SAB 122, reducing the accounting capital requirements for financial institutions' custody of encrypted assets. This is highly likely to stimulate the strong connection between cryptocurrencies and traditional finance, promoting the integration of credit, wealth management, and other traditional financial gameplay. four ️⃣ Clear jurisdiction&federal regulatory framework In the January EO, it was emphasized that: ·Revocation of previous policies (such as EO 14067, 2022 Ministry of Finance Framework) ·Prohibit the issuance of CBDCs by the US central bank ·Each department is required to conduct a policy review and revision within 30/60/180 days, and establish a regulatory framework that is technically neutral and clearly assigns responsibilities. five ️⃣ Priority direction for law enforcement ·DOJ will "stop relying on punitive supervision" and focus on investor harm (asset misappropriation, fraud, money laundering, etc.) rather than simple violations; ·The SEC and CFTC will collaborate to better delineate the regulatory boundaries of securities, futures, and banking. 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 series of directions and stimulate cryptocurrency innovation. six ️⃣ International coordination and US dollar sovereignty ·Strengthen cross-border coordination, but take a more firm stance in ensuring that the United States leads digital asset standards; ·Vigorously promote the emergence of stablecoins denominated in US dollars as the global mainstream and defend the sovereignty of the US dollar. So tomorrow, we need to focus on the direction of policies. Clear regulation of stablecoin issuance can reduce risks and help institutions and retail markets enter with greater peace of mind. The government may really establish Bitcoin reserves, which will be a long-term support for BTC demand. The continued thawing of the banking industry may lead to improved liquidity and expansion of financing channels. Clear funding and regulation are expected to attract capital and boost investment sentiment. Overall, it is a significant positive development. Looking forward to smooth progress. 🧐