Crypto Industry Prepares for White House’s Comprehensive ‘Regulatory Bible’ on Digital Assets
By Sarah Wynn, The Block – July 29, 2025
The cryptocurrency sector is bracing itself for a milestone regulatory roadmap expected from the White House this Wednesday. Industry insiders describe the incoming report as a “regulatory Bible” — a foundational guidebook set to influence federal rulemaking and policy for years to come.
A Definitive Guide to Cryptocurrency Regulation
Cody Carbone, CEO of The Digital Chamber, emphasized the report’s significance in an interview with The Block, stating, “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.” The report is a deliverable of the President’s Working Group on Digital Asset Markets, established under an executive order signed by President Donald Trump earlier this year.
The working group includes key figures such as Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Securities and Exchange Commission Chair Paul Atkins. Charged with proposing a regulatory framework for digital assets, their recommendations aim to provide clarity to lawmakers and the crypto industry alike.
Context: Legislative Momentum in Washington
The report arrives amid a heightened legislative push. In mid-July, the U.S. House of Representatives passed a stablecoin bill that awaits President Trump’s signature. Additionally, broader cryptocurrency legislation has been advanced in both chambers, with Senate Republicans targeting a September 30 vote on their version of the bill.
Carbone noted that the White House report could also prompt federal agencies to reconsider or rescind previous guidance, subsequently helping to close regulatory gaps that have long challenged the industry. “I’m hoping that this drives a lot of legislative efforts going forward and fills in those gaps in the near term just to give the industry the clarity of where they can and cannot act or operate,” he said.
The Bitcoin Reserve Debate Remains Open
One highly anticipated but yet unresolved area is the proposed creation of a digital asset stockpile — effectively, a “strategic bitcoin reserve.” In March, President Trump issued an executive order directing his administration to explore budget-neutral methods for acquiring additional bitcoin without imposing costs on taxpayers. Treasury Secretary Bessent and Commerce Secretary Lutnick were tasked with developing these strategies.
Carbone acknowledged that, for now, no concrete details about the bitcoin reserve appear to be included in the forthcoming report. “Nothing is set in stone,” he said, although the administration continues to prioritize this concept. A source close to the matter indicated that details on the reserve could still be incorporated at the last minute.
Industry Voices Highlight Tax Clarification and Token Frameworks
The Digital Chamber has submitted feedback to the Presidential Council of Advisers for Digital Assets, requesting clear tax rules and the establishment of a regulatory framework for tokenized securities. “Tax clarity is number one,” Carbone stressed. “I really think that needs to be one of the most foundational portions of this report and where Washington leans in.”
The report is expected to be accompanied by a White House briefing involving members of the working group and industry representatives, including Carbone, scheduled for around 2:30 p.m. ET Wednesday. It remains uncertain whether the report will be released before or after this meeting.
Industry Leaders Term the Report a ‘Milestone’
Other key figures in the crypto ecosystem have hailed the report as a critical step forward. Summer Mersinger, CEO of the Blockchain Association, called it a “milestone” following the executive order issued earlier this year. Ron Hammond, head of policy and advocacy at Wintermute, described the forthcoming publication as a “fulfillment of President Trump’s campaign,” noting the White House’s evident prioritization of cryptocurrency regulation.
About the Author:
Sarah Wynn is a reporter at The Block specializing in policy, regulation, and legal developments within the cryptocurrency space. Based in Washington D.C., she brings a seasoned perspective on securities regulation and digital assets.
The Block remains an independent news outlet dedicated to providing timely, objective information about the cryptocurrency industry. For further disclosures, please visit The Block’s website.