President Donald Trump’s administration released its most detailed policy report for digital assets on Wednesday, with a broad legal route map for crypto, but did not provide a new insight into the proposed strategic bitcoin (BTC) reserve of the government.
The document of 163 pages, prepared by the President’s working group on digital asset markets, consolidates the position of the administration on the regulation of the stablecoin, tax reform and federal market overview.
Although the report confirms a dedication to digital innovation, it does not stop when introducing new initiatives or expanding previous announcements, including the controversial plan to build a Federal Reserve or Bitcoin and other digital assets.
The reserve proposal, initially introduced via an executive order in January, only receives a passing mention in the last part of the report.
High administration officials said that work is underway, but did not offer a timeline or further details. Trump consultant Bo Hines previously indicated that the government could choose not to publicly release the development report of the reserve, despite the intentions to collect BTC.
The lack of details in the reserve initiative has fueled uncertainty in the crypto industry, which had hoped for a clearer blueprint. Earlier this year, the project had drawn attention when civil servants suggested that it would partly rely on assets confiscated by enforcement actions.
Legislers, including Senator Cynthia Lummis (R-Wyo.), Has introduced legislation, such as the Bitcoin Act, to support strategic accumulation, but those efforts continue to get stuck in the congress. In addition to the reserve problem, the report confirms the support for the existing legislative priorities of the administration.
It emphasized the recently established Genius Act, which determines regulatory standards for Stablecoin, and follows the progress of the Clarity Act, an extensive bill for crypto market structure, now under senate consideration after passing the house.
The report also encouraged federal supervisors, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), to use their current authority to facilitate digital assets trade even while the legislative work continues.
A separate part outlines tax reform proposals aimed at relieving compliance with crypto users. These include thresholds that exempt transactions with low value from power gain and updates for how setting up rewards are treated for tax purposes, policy that is long defended by Lummis and other proponents of digital assets.
Civil servants described the report as a framework for measuring progress under the crypto agenda of President Trump. Although the document consolidates months of legal efforts, it leaves important questions unanswered, in particular around the future of federal crypto stocks.