The Trump administration’s comprehensive cryptocurrency policy report, released Wednesday, omits key details about implementing the president’s promised national Bitcoin reserve, leaving industry stakeholders without clarity on a major campaign pledge.
The 163-page report from the President’s Working Group on Digital Asset Markets concludes a 180-day policy review and addresses digital asset regulations, stablecoin rule, and trading oversight. But it offers no specifics about funding or implementing the strategic cryptocurrency stockpiles that President Donald Trump announced earlier this year.
The report “isn’t likely to tell the crypto industry much that it doesn’t already know — including about the federal bitcoin reserves, which remain a black box,” according to CoinDesk.
On March 6, Trump signed an executive order establishing both a Strategic Bitcoin Reserve and a separate US Digital Asset Stockpile to hold other cryptocurrencies. The reserve was intended to centralize government-seized crypto assets and position the US as what Trump calls the “crypto capital of the world.”
Related: White House Delays Release of First Federal Bitcoin Policy Report
Senior administration officials said the document serves as a progress measurement tool for the government’s cryptocurrency initiatives. The administration has already signed the GENIUS Act regulating stablecoins, and broader crypto market legislation has advanced in Congress.
Bo Hines, one of Trump’s top crypto advisers, had suggested earlier this month that details about the reserve process might not be made public, disappointing industry observers who hoped for clarity on the government’s crypto acquisition strategies.
The US government currently holds an estimated 200,000 bitcoins worth billions of dollars, primarily acquired through law enforcement seizures. The reserves would be funded initially through existing government crypto holdings rather than new purchases.
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