After embracing and backing cryptocurrency, the White House is going a step further and releasing a crypto currency Bible.
The Block reports that the White House is slated to release a report on Wednesday, expected to reveal details on how federal officials view cryptocurrency and lay out recommendations for lawmakers.
“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,” Cody Carbone, CEO at The Digital Chamber said in an interview with The Block.
Carbone called it a “regulatory Bible,” or a guidebook. “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,” Carbone said.
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President Donald Trump’s administration took significant steps to endorse and promote cryptocurrency as a key component of U.S. financial policy. Marking a departure from his earlier skepticism, Trump signed Executive Order 14178, titled “Strengthening American Leadership in Digital Financial Technology.” This order revoked previous restrictions on digital currencies, prohibited the establishment of a Central Bank Digital Currency (CBDC), and created a Presidential Working Group on Digital Asset Markets to develop a comprehensive federal regulatory framework for digital assets, including stablecoins.
The administration also supported the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), requiring stablecoins to be backed one-to-one by U.S. dollars or other low-risk assets, thus ensuring market stability and consumer protection.
Further reflecting the administration’s commitment to integrating digital assets into the national financial strategy, Trump signed another executive order establishing the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile.
The Strategic Bitcoin Reserve capitalizes on Bitcoin obtained through federal forfeitures, while the Digital Asset Stockpile encompasses other digital currencies, managed across federal agencies. These initiatives collectively signal the administration’s vision of positioning the United States as a global leader in the digital asset economy, fostering innovation, and promoting economic opportunity for Americans in the rapidly evolving world of cryptocurrencies.
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“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,” Carbone said.
The White House’s move to release a comprehensive cryptocurrency report, marks a pivotal moment in the future of digital assets in the United States. This report aims to provide clear guidance on how federal officials view cryptocurrencies and sets the stage for consistent rulemaking and legislation over the coming years.
By establishing a clear regulatory framework, the administration is addressing long-standing uncertainties within the crypto industry, which should encourage innovation while protecting consumers and market stability. The report is expected to guide lawmakers and regulators in shaping policies that foster responsible growth in this fast-evolving sector.
Together, these efforts signal a broader vision to position the U.S. as a global leader in the digital asset economy. By balancing innovation with regulation, the administration aims to promote economic opportunity, ensure financial security, and maintain America’s competitive edge in the digital age.