Congress Eyes August Deadline for Crypto Market Rules—Stablecoins First in Line

Washington’s grinding machinery might actually produce crypto legislation this summer—if lobbyists don’t water it down to irrelevance.

Stablecoin framework leads the charge, with broader market structure rules trailing close behind. Lawmakers claim they’re ’protecting consumers’ while quietly jostling for banking sector donations.

Watch for last-minute carveouts that’ll make Swiss cheese look solid. After all, what’s a financial regulation without loopholes big enough to drive a Bitcoin mining rig through?

Three-phase policy structure

Hines said the administration’s digital asset agenda will be structured into three phases: demolition, construction, and implementation. 

The demolition phase involved reversing regulatory measures from the prior administration, which were viewed as hostile to crypto development. 

This included dismantling enforcement patterns associated with Operation Chokepoint 2.0 and hosting the first White House crypto summit to engage directly with industry stakeholders.

Operation Chokepoint 2.0 is the name given to the alleged efforts by US financial regulators to hinder the access of crypto companies to banking services.

The construction phase focuses on legislative efforts and policy coordination, while the implementation phase will follow, integrating blockchain technologies into the US financial system. 

Hines described this long-term plan as a comprehensive approach to reengineering payment systems and regaining the US’s competitive advantage in financial technology.

Strategic Bitcoin Reserve

Alongside its legislative initiatives, Hines highlighted that the Trump administration is preparing to create a Strategic Bitcoin Reserve (SBR). 

The Department of the Treasury is currently auditing agency holdings and evaluating acquisition pathways per the.

Hines noted that the audit has progressed smoothly with full agency participation and that the Treasury is now aggregating data to support the next steps.

The executive order demands that BTC accumulation under the SBR will follow a budget-neutral model, ensuring no additional burden on taxpayers. Ideas under consideration include revaluing gold certificates, monetizing government-held energy assets, and conducting mining operations on federal land. 

A working group is reviewing proposals to determine and implement the most efficient method.

Hines revealed:

Additionally, he stated that the US considers Bitcoin “digital gold” and intends to accumulate as much as possible using fiscally responsible mechanisms.

In addition to the SBR, the administration is developing national stockpiles of other digital assets to support broader innovation within the blockchain sector, which was also approved under the executive order signed in March.

Nonetheless, Hines reaffirmed that Bitcoin remains central to the administration’s vision for long-term economic leadership.

He concluded: