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On July 7, it was reported that the Trump administration's Digital Assets Working Group is accelerating efforts to submit its first major cryptocurrency policy report by July 22. This report is the result of months of collaboration between the group's leader David Sacks, Bo Hines, and senior officials from the Treasury Department, Department of Commerce, SEC, CFTC, and other agencies. It aims to implement the executive order signed by President Trump in January to strengthen U.S. leadership in the cryptocurrency sector. The report is expected to include regulatory and legislative recommendations, though specific details remain unclear. The group's original mandate includes developing a federal digital asset framework covering stablecoins (with Congress already initiating related procedures) and exploring the establishment of a national digital asset reserve (which Trump set up in March). While the details of the report have not yet been disclosed, industry insiders speculate it may include strategies for raising a strategic Bitcoin reserve without increasing the burden on taxpayers, as well as recommendations to ensure crypto companies have fair access to banking services from institutions like the Federal Reserve—an area where the Fed has historically denied direct payment system access to crypto firms.

According to Jinse Finance, spot gold has dropped $10 in the short term, falling below the $3,300 per ounce mark for the first time since June 30, with an intraday decline of 1.15%. New York gold futures are down more than 1% today, currently trading at $3,309.20 per ounce. New York silver futures are down 2% today, currently at $36.34 per ounce.