The U.S. Pushes Ahead on Crypto Laws And Its National Digital Assets Stockpile

The U.S. is on track to become a digital assets powerhouse. 

To take further steps towards this, President Trump signed the GENIUS Act into law, the Market Structure Bill was passed in the U.S. House of Representatives, and the Trump administration released its first digital assets report. 

Let’s jump in! 

President Trump Signs the GENIUS Act Into Law, and the Market Structure Bill Should Be Up Next 💪

On July 18th, President Trump signed the GENIUS Act into law. 

This marks the first legislative action by the administration to regulate and encourage the use of digital assets, specifically stablecoins. It also sends a strong signal that the U.S. is eager to become a leader in this space.

In case you didn't know, the GENIUS Act provides a clear guideline for stablecoin issuers on how they must back their currency, enabling regulatory bodies to work closely with them. 

During the announcement in the White House, President Trump praised various political and industry figures for their contributions to the bill's passage and broader administration efforts.

To get the bill in front of President Trump, there was some back-and-forth in both the House and Senate, but eventually, we arrived at the first-of-its-kind law for the digital assets ecosystem in the U.S.. 

However, it seems like the administration is not slowing down. 

The next bill that could further boost the development of digital assets in the U.S. is the Crypto Market Structure Bill. This bill proposes clearer regulatory jurisdiction between the SEC and CFTC, and is considered a landmark step toward digital asset regulatory clarity.

The bill recently passed its vote in the U.S. House of Representatives and is waiting to be voted on in the Senate. 

The White House Releases the Digital Assets Report 👀

The White House also released its first Digital Assets Report earlier last week. 

This is the next step in the initiatives by the President's working group for digital assets.

One of these points is the establishment of a digital assets stockpile and a strategic Bitcoin reserve, a focus of the report, but not in the way you may think. 

The administration did a thorough job in explaining the key differences between stablecoins and other cryptocurrencies, as well as how specific blockchain technologies work, and what lawmakers should consider when spending more time with this technology. 

Bo Hines, the Executive Director of the Presidential Council of Advisers for Digital Assets, has been engaging on X and responding to questions about the report and is now eager to gather feedback from industry experts and leaders to further establish next steps. 

However, while the administration went into great detail about the digital assets ecosystem, there is very little mention of Bitcoin. 

You would expect that to be the case, especially since the Trump administration wants to establish a strategic Bitcoin reserve. The only thing we learned was that they are still pursuing budget-neutral ways of acquiring BTC for the reserve. 

Speaking of the reserve, there was also interesting news about the U.S. government’s current Bitcoin holdings…

The U.S. Government (Apparently) Holds Less Bitcoin Than Previously Reported 😱

Last month, we read about a Freedom of Information Act (FOIA) request from March 2025, in which the amount of Bitcoin held by the U.S. Marshals Service was requested. 

Why the U.S. Marshals Service? 

It’s the entity that looks after confiscated assets. In Bitcoin's case, most of these have been seized during the Silk Road and various exchange hacks over the last decade. 

Up until now, the Bitcoin community assumed the U.S. holds around 200,000 BTC. However, according to the FOIA request, the U.S. government apparently only holds 28,988.35643016 BTC.

If true, that’s substantially less than we all thought! 

Needless to say, we were all a bit surprised, and those of us who want to see a strategic Bitcoin reserve in the U.S., like Senator Cynthia Lummis, weren’t amused. 

Senator Lummis has always been one of the most vocal advocates for Bitcoin on Capitol Hill and responded with the following X-post: 

Considering the White House's recent push for digital asset adoption, as seen in the report and their efforts to build a digital asset stockpile, this would be a disappointing development if the reports are accurate.  

If we're at roughly 29,000 BTC now, Bo Hines and his team need to step up their budget-neutral strategies to start accumulating as much BTC as possible. 

After all, there is a strong push by many Bitcoin advocates on Capitol Hill to get to one million Bitcoin by 2030. The window to do this is closing, and if the U.S. truly wants to be a powerhouse in digital assets, it should accumulate as much of the hardest money on earth as possible.

I know that’s what we’re doing at Samara.

Your fellow stacker in Sats, 

Patrick Lowry

Disclaimer: The opinions expressed in this newsletter are solely those of the author and do not necessarily represent the views of any associated company. This newsletter is for educational and informational purposes only and should not be construed as investment, financial, or any other professional advice. Investing in cryptocurrencies is highly speculative and carries a significant risk of substantial financial loss, so you must conduct your own thorough research and consult with independent professional advisors before making any decisions.