The state of crypto regulations is briskly pacing in the U.S., under the presidency of billionaire businessman Donald Trump. After three crucial crypto bills were recently approved by the American congress, the much awaited crypto policy report from the President’s working group on digital assets is set to release on July 30.
Bo Hines, the executive director of President Trump’s Council of Advisors for Digital Assets confirmed the timeline on Wednesday, July 23. Without revealing any major details, Hines did mention that the report will be 180-pages long.
“America is now leading the way on digital asset policy,” he posted on X, sharing the news.
Crypto giants including Kraken and Polygon were among four thousand others who reacted to Hines’ post within an hour of him sharing it.
Back in January, President Trump had signed an executive order that directed the U.S. regulators to start analysing the pro and cons of exploring the digital assets technology. This report is a result of this particular order from the 47th U.S. President.
The development comes just days after the stablecoin-focussed GENIUS bill was signed into law by President Trump. He wishes to transform the U.S. into the crypto capital of the planet.
Despite the ongoing pro-crypto developments in the U.S.’ and rising institutional adoption, three major US financial agencies have recently issued a joint document warning banks about the potential risks associated with custodying crypto assets on behalf of clients. These agencies are – the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Reserve Board.
The upcoming regulations around crypto in the U.S. intend to make the industry, infamous for its volatility, more stable and safer for investors to engage with.