The White House released a digital asset strategy report, and the Fed has maintained the interest rate unchanged for 5 consecutive times.

On July 31, the White House released the long-anticipated digital asset report, aimed at consolidating the national strategy for the United States' global leadership in the fields of blockchain, cryptocurrency, and tokenized finance.

This 166-page document was led by the White House's head of cryptocurrency and artificial intelligence affairs, integrating opinions from departments such as the Treasury, Commerce, SEC, and CFTC, and proposing several recommendations for simplifying regulation, supporting innovation, and achieving regulatory modernization.

Although the report broadly covers the policy area of digital assets, it does not provide substantial updates on the government's planned Bitcoin reserves, merely reiterating the statements from President Trump's executive order signed in January without listing subsequent steps or an implementation timeline.

The report also emphasizes the need to improve the regulatory framework through legislation, including specific recommendations such as expanding the authority of the Commodity Futures Trading Commission (CFTC) and supporting the development of decentralized finance (DeFi), while urging regulatory agencies to provide clearer policy guidance for digital asset innovation within the existing legal framework.

In stark contrast to the digital asset report, the Fed chose to stand pat on monetary policy. For the fifth consecutive meeting, the benchmark interest rate was maintained at 4.25%-4.50%, which is basically in line with market expectations.

However, this resolution faced opposition from two board members appointed by Trump, who believe that the current monetary policy is too tight. This is the first time in over 30 years that two board members have voted against a resolution, reflecting a divergence in the Fed's internal stance on monetary policy.

The Fed stated in a statement that despite the unemployment rate remaining low and the job market conditions still being robust, inflation remains slightly high, and economic growth has slowed in the first half of the year. This wording reflects the Fed's reluctance to hastily cut interest rates while the paths of inflation and employment remain unclear, and it maintains a high level of vigilance regarding the uncertainty of the economic outlook.

These two important decisions reflect the White House's proactive strategy in emerging fields and also demonstrate the Fed's cautious response to current economic risks, laying an important tone for the market environment in the second half of the year.

In summary, innovation can be pursued, but risks cannot be taken; this is the overall tone of the current U.S. policy.

#白宫数字资产报告 # Fed #Interest Rate