The US government is set to release a crypto report on July 30th, according to White House Digital Assets Director Bo Hines. “The President’s Working Group on Digital Assets has completed the 180-day report,” he wrote in a post to X on Wednesday. “It will be released publicly on July 30th. America is now leading the way on digital asset policy.”
The new administration heading the US government has been keen on transparency regarding new legislation over the crypto industry. Bo Hines was appointed to the crypto task force to help crypto be represented at the Judicial level. Recently, several crypto laws were signed into effect, including the GENIUS Act.
The GENIUS Act provides necessary guidance for a crucial element of the emerging crypto asset ecosystem. Clear payment stablecoin regulation allows companies and individuals to transact in ways that boost efficiency and lower costs. Payment stablecoins will play a significant role in the securities industry moving forward, something that the President’s Working Group on Digital Assets has been working on for months.
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Bo Hines has described Bitcoin as “digital gold” while noting the “intrinsic value” present in cryptocurrency. That is set to inform its position regarding possibly selling it at some point in the future. “We’re not going to sell any Bitcoin that we possibly have in the US government, period,” Hines said. “We want as much as we can possibly get,” he added