The White House crypto policy report will be launched on July 30, and could light a new era of the US block chain domain. UU. Or deepen the industry regulatory quagger.
With a whisper of a bitcoin reserve and access fed for cryptographic companies, bets are nothing less than financial or ruin revolution.
Summary
- The White House will publish a historical report of cryptographic policies on July 30, potentially remodeling US financial leadership with proposals such as a Bitcoin reserve and access fed for cryptographic companies.
- A new bifurcated regulatory framework may arise in the middle of ongoing jurisdictional disputes.
On July 23, BO HIES, Executive Director of the President Digital Assets Advisory Council, announced that the long -awaited Cryptocurrency Policy Report of the White House will be made public on July 30.
https://twitter.com/bohines47/status/19480816447459763
The document, headed by HIES and the technological businessman David Sacks, culminates a 180 -day review by the president’s working group on digital assets, a cross -agency effort that involves the Treasury, the Bolsa and Securities Commission, the Trade Commission of Basic Products and the Department of Commerce.
Ordered by January Executive orderThe report is expected to describe the strategies to maintain US leadership in digital finances, including proposals as a possible bitcoin reserve and expanded access to the Fed payment system for Blockchain companies.
What to expect from the Crypto of the White House report
The digital asset industry is no stranger to ambiguity. For years, cryptographic companies have operated in a legal gray area, navigating overlapping jurisdictions, the unequal application and the imminent show of a digital currency of the central bank. However, the next White House report indicates a decisive end of that time, at least in intention.
Among the most anticipated recommendations of the report is a proposal to extend just access to the Federal Reserve Payment Systems. Currently, most digital asset companies trust intermediary banks for dollars, creating bottlenecks and unique failure points.
Access to direct Fed would not only optimize settlements, but also force traditional banks to compete with native blockchain payment rails. However, experts suggest that this privilege would come with strict capital and audit requirements, which potentially excludes all companies less established.
The proposal for a strategic Bitcoin reserve represents a radical deviation of traditional treasure management. The working group was advised to examine the models where Bitcoin seized or treasure could serve as coverage against the volatility of the dollar while maintaining the liquidity of the cryptocurrency.
This approach reflects the strategies used by the bonds of the Treasury and States of the Nation, such as El Salvador, but with more strict compliance railings. Mechanics still are clear; If the government would actively exchange these reserves or maintain them in the long term, it could determine their impact on the markets.
Another proposal raised in the group’s mandate addresses the stablecoin policy, with a clear preference for private -emitted tokens and backed by dollar that maintain parity with the US dollar. In particular, it rejects the CBDC model completely, citing privacy risks and the possible erosion of individual financial autonomy.
Instead of pressing a digital dollar controlled by the Central Bank, the Administration seems to be laying in the success promoted by the stable market called in the United States, particularly those with transparent reserves and audited support.
Regulatory continuration outlets
Among these daring strokes, the report must navigate a mined field of jurisdictional disputes. The SEC and CFTC have spent months in confrontation on whether most tokens qualify as basic values or products, while treasure officials have silently advocated a new independent regulator specifically for digital assets. The commitment of the working group, which is expected to involve the bifurcated supervision based on the functionality of the assets, cannot satisfy any of the camps.
Anyway, what emerges on July 30 will not be the last word. The real test of the report is whether it can translate the political vision into viable policies, without crushing the innovation it seeks to take advantage of.
