Key Takeaways
- White House report will shape U.S. bitcoin regulation for years ahead.
- No final decision yet on establishing a strategic bitcoin reserve, though it's a priority.
- Industry leaders expect tax clarity and legislative momentum from the report.
The White House is preparing to release a major report later today, expected to offer sweeping guidance on how the U.S. government will approach bitcoin regulation, reserves, and tax policy.
Guidance for lawmakers
Cody Carbone, CEO at The Digital Chamber, described the coming report as a “regulatory Bible” that will serve as a guide for all digital asset rulemaking and guidance over the next several years.
Carbone explained in an interview:
“I do think it is a big deal because this will dictate every rulemaking or guidance document that comes out over the next three and a half years.”
Executive order
The report is being issued as part of an executive order by President Donald Trump, which established the President’s Working Group on Digital Asset Markets.
This group, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and SEC Chair Paul Atkins, was tasked with developing recommendations for a comprehensive regulatory framework.
As lawmakers move quickly—recently passing a stablecoin bill and considering broader bitcoin legislation—the report is expected to help clarify agency plans and legislative gaps.
Uncertainty around bitcoin reserve
The working group was also directed to examine the feasibility of a U.S. digital asset stockpile, including a strategic bitcoin reserve.
Trump previously tasked officials with exploring budget-neutral methods for acquiring bitcoin.
Carbone noted that nothing about the reserve is finalized, but the administration is prioritizing it.
A source familiar with the report said it currently does not mention a reserve, though that could change before release.
Focus on tax clarity and milestones
The Digital Chamber has called for clear tax guidance and a framework for tokenized securities.
Carbone emphasized that tax clarity should be a foundational part of the report.
Blockchain Association CEO Summer Mersinger described the report as a “milestone,” and Ron Hammond of Wintermute called it a fulfillment of campaign promises to prioritize bitcoin policy at the federal level.
Next steps
A briefing with administration officials and industry stakeholders is scheduled for Wednesday.
It remains uncertain whether the report will be released before or after this meeting, but expectations for its impact on future bitcoin regulation and reserve policy are high.
