Bitcoin News: White House Crypto Report Sparks Outrage Over Ignored Bitcoin Reserve
The White House’s latest crypto report has left the Bitcoin community divided. While it outlines ambitious regulatory reforms, the glaring omission of the Strategic Bitcoin Reserve has sparked outrage among advocates. Here’s what you need to know about this pivotal moment in cryptocurrency policy.
White House Crypto Report: What’s Missing?
The 166-page document, released on January 23, 2025, fails to address the Bitcoin reserve concept introduced just three days earlier. Key points:
- The reserve was mentioned only in passing, with no new guidance
- Industry leaders call this a “missed opportunity” for U.S. crypto leadership
- Bitcoin influencers accuse the government of “betrayal of trust”
Bitcoin Reserve Controversy: Industry Reactions
The crypto community remains split on the report’s significance:
| Critics | Supporters |
|---|---|
| CJ Burnett: “Unnecessary uncertainty” | Calvin Ayre: “Step forward for Bitcoin” |
| George Bodine: “Betrayal of trust” | Susie Violet Ward: “Policy shift” |
Crypto Regulations: The Three-Phase Plan
The report proposes a comprehensive framework for digital assets:
- Demolition phase: Remove outdated regulations
- Construction phase: Collaborate with industry on new laws
- Implementation phase: Pass supportive legislation
Key Recommendations for Digital Assets
The administration suggests:
- Creating a clear taxonomy for crypto classification
- Shared oversight between CFTC and SEC
- Allowing banks to custody cryptocurrencies
- New tax treatment for digital assets
What This Means for Bitcoin’s Future
While the report avoids restrictive policies, the lack of action on the Bitcoin reserve means the U.S. won’t follow El Salvador’s model anytime soon. The administration emphasizes preventing a return to “Operation Chokepoint 2.0” policies but leaves Bitcoin’s strategic role undefined.
Frequently Asked Questions
Q: Why is the Bitcoin reserve important?
A: It would establish Bitcoin as a strategic national asset, similar to gold reserves.
Q: What are the key regulatory changes proposed?
A: The report suggests clearer classification, shared oversight, and banking access for crypto.
Q: How does this affect crypto investors?
A: The proposals could lead to more institutional participation but maintain regulatory uncertainty.
Q: Will the U.S. adopt Bitcoin as legal tender?
A: The report’s silence on the reserve suggests this isn’t currently being considered.
