The prices of the best cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and XRP, have shown little or no movement in the past 24 hours, surprising a lot on the market. This break in price action came immediately after the publication of the White House report on digital assets.
On paper, the report should have been a bullish catalyst. Titled the White House crypto reportIt was published by the president’s working group on digital assets and presented solid pro-Crypto messages. An article in the White House even said: “Together we will do in the United States the world capital of cryptography”, describing a daring vision to adopt blockchain technology.
Representatives of the government, including the secretary of the Treasury Scott Besant, as well as political representatives of main crypto players such as Coinbase, Ripple, Chainlink, Anchorage and Krakenfx, were present at the event. The leaders of the association of associations such as the Blockchain Association, Digital Chamber and Crypto Council also participated. Ripple’s legal director, Stuart Alderoty, described the report as “complete, useful and direct”.
According to Alderoty and other initiates, the 160 -page document presents recommendations to establish clear market rules, improve consumer protections and stimulate national security. It also encourages regulatory organizations as the dry to take immediate measures on the classification and management of digital assets.
The report is considered by many to be the most pro-Crypto movement to date from any American administration. Legal experts have stressed that it covers everything from the definition of asset types to the recommendation of decentralized financing policies (DEFI), and even describes the way in which Congress should deal with the rules of the money issuer.
Despite the positive tone and in -depth political recommendations, the markets remained cautious. Bitcoin continues to negotiate just above $ 118,400, while Ethereum holds about $ 3,860. XRP, too, remained stable, with prices consolidating after recent gains. Other top 10 cryptocurrencies, including BNB, Solana, Cardano and Dogecoin, have also shown minor declines or no significant change.
There was an expectation of a more immediate market rally, in particular after talking about the United States by potentially using the existing Bitcoin reserves or by buying more via federal channels. Although the Bo hines representative referred to a future accumulation, no clear announcement was made regarding official purchases of the Bitcoin government.
