The White House released its first policy report on cryptocurrency wallets.

On July 30, 2025, the White House officially released its first cryptocurrency wallet policy report. This report, the culmination of 180 days of research by the Trump administration's Digital Asset Task Force, aims to provide a regulatory framework and development direction for the US cryptocurrency wallet industry. 136 The following is the report's core content and impact analysis:

1. Key Points of the Cryptocurrency Wallet Report

Strategic Cryptocurrency Wallet Reserve (SBR) Initiative: The report explores the possibility of establishing a national cryptocurrency wallet reserve, aiming to enhance the US's leadership in the global cryptocurrency wallet competition. 16

Stablecoin Regulation: The report supports the GENIUS Act, which establishes a federal regulatory framework for stablecoins (such as USDT and USDC), requires 100% reserve asset backing, and prohibits interest income. 6

Regulatory Classification of XRP and Cryptocurrency Wallets: The report may clarify XRP's security status and discuss the feasibility of cryptocurrency wallets as strategic reserve assets. 28

Institutional Participation: The report allows 401(k) retirement plans to invest in cryptocurrency wallets and encourages large private equity funds to enter the market.

2. Market Impact

Cryptocurrency Wallets and Ethereum: The report may strengthen institutional holdings of cryptocurrency wallets (e.g., MicroStrategy and Tesla have already significantly increased their holdings) and promote Ethereum's use in stablecoins and tokenized assets.

XRP's Legal Status: If the report clarifies that XRP is not a security, it could end its legal dispute with the US SEC and boost market confidence.

Stablecoin Market Growth: Driven by the GENIUS Act, the supply of stablecoins has surged by $4 billion and is likely to expand further.

3. Future Policy Directions for Cryptocurrency Wallets

Anti-CBDC Stance: The report supports the Anti-CBDC Surveillance State Act, which would prohibit the Federal Reserve from issuing central bank cryptocurrency wallets (CBDCs) to protect private payment systems (e.g., Visa and Mastercard).

Regulatory Division: The CFTC may gain greater oversight of the crypto market, while the SEC's enforcement pressure may be reduced.

Global Impact: This US move may promote convergence in global cryptocurrency wallet regulation, influencing policymaking in regions such as the EU and China.

4. Cryptocurrency Wallet Market Reaction

Short-Term Volatility: Due to the report's potential lack of specific policy details, market volatility is possible.

Long-Term Positives: Clarity in cryptocurrency wallet regulation may attract more institutional capital into the crypto market and promote compliance within the industry.

Conclusion

This report marks a critical turning point in US cryptocurrency wallet policy and may reshape the global digital asset landscape. Future efforts will require close attention to congressional legislative progress (such as the final signing of the GENIUS Act) and the market's actual response to the policy.