The crypto industry awaits the White House Digital Asset report after Donald Trump sparked some policy blitz with the “Crypto Week.” Reports suggest that the report, which is officially due to be released on Tuesday, might be released to the public before the end of the month.
The House of Representatives passed three major crypto bills, with one, the GENIUS Act, now headed directly to President Trump’s desk. The other two are bound for Senate review. This has left the digital assets market hanging in the middle of the bull run.
US eyes Bitcoin reserve
The US legislation wave positions the United States as the “crypto capital of the world.” The Trump administration’s first official blueprint for crypto policy reportedly took months, led by the Working Group on Digital Assets, co-led by David Sacks and Bo Hines.
While the final contents are still under wraps, reports suggest it will include sweeping proposals, from establishing a strategic Bitcoin reserve, a national digital asset stockpile, with tough new national security controls on illicit finance and sanctions evasion.
Update on this timeline:
The report is officially due tomorrow, but a White House official tells me it will be released to the public before the end of the month. https://t.co/IPPawbVMeR
— Eleanor Terrett (@EleanorTerrett) July 21, 2025
Industry insiders are also eyeing potential reforms around banking access for crypto firms, especially in dealings with the Federal Reserve. The working group’s original task was to deliver a federal stablecoin framework, but that got handled by Congress last week with the passage of the GENIUS Act.
Meanwhile, Capitol Hill remains active, and the Senate Banking Committee is preparing to release its much-anticipated digital asset market structure draft after a delay last week. The report mentioned that Chairman Tim Scott confirmed a markup will likely follow the August recess. Over at Senate Agriculture, Brian Quintenz suddenly disappeared from the CFTC chair nominating vote roster.
Critics eye Trump’s crypto ties
All of this policy momentum has triggered a wave of bullish sentiment among investors. The crypto market recently breached the $4 trillion mark. Bitcoin touched an all-time high of $123,000 on July 14 before pulling back slightly, and while retail interest is returning, whales are still making big moves. Data shows that Google searches for “Bitcoin” are rising.
According to 10x Research, large-scale holders, those controlling 10,000 BTC or more, snapped up nearly 47,000 Bitcoins just before the ATH. Many of those positions have since been trimmed, which has added to a modest pullback to the $118,000 zone of BTC. However, most of the institutional re-engagement began after Circle’s blockbuster IPO last month.
As the Trump administration pushes harder into crypto, critics are sounding alarms. Some warn that the industry’s murky structure and lack of transparency could make it a ground for corruption or foreign influence. Token holdings within Trump-affiliated projects have prompted scrutiny. As of now, the GENIUS Act may offer some early consumer safeguards for stablecoins, yet there are many regulatory gaps.
