According to White House Digital Assets Director Bo Hines, the United States government intends to publish a crypto report on July 30th.
In a post to X on Wednesday, he stated that the President’s Working Group on Digital Assets had finalized the 180-day report. “It will be made available to the public on July 30th.” The United States is currently at the forefront of digital asset policy.
The new administration in the United States has prioritized transparency in the context of new legislation affecting the crypto industry.
Bo Hines was appointed to the crypto task force to represent crypto at the judicial level. The GENIUS Act is one of the numerous crypto laws that have recently been signed into effect.
The GENIUS Act offers essential guidance for a critical component of the burgeoning crypto asset ecosystem. Precise payment stablecoin regulation enables companies and individuals to conduct transactions that enhance efficiency and reduce costs.
The President’s Working Group on Digital Assets has been researching the potential impact of payment stablecoins on the securities industry for months.
Bo Hines has referred to Bitcoin as “digital gold” and has also acknowledged the “intrinsic value” of cryptocurrency. This is intended to inform its stance on the possibility of selling it in the future.
“We will not sell any Bitcoin that we may have in the US government, period,” stated Hines. Additionally, he said, “We are seeking as much as we can obtain.”
