- Aussie crypto analyst, Pav Hundal, believes the release of the Whitehouse’s crypto working group report will trigger an increase in Bitcoin volatility as investors look to reposition based on proposed policy changes.
- Hundal noted that Bitcoin’s annualised volatility is currently at multi-year lows, suggesting volatility is poised to increase given the right trigger.
- The crypto working group report recommended sweeping regulatory changes and several legislative proposals aimed at supporting uptake of digital assets by mainstream finance.
The publication today of the Whitehouse crypto working group report “will drive one of the largest volatility events we’ve seen in 2025,” according to Pav Hundal, lead market analyst at Aussie crypto exchange Swyftx.
In a June 30 article, posted prior to publication of the crypto working group’s report, Hundal explained that his confidence in an imminent volatility shift stems from an analysis of the data showing “annualised volatility of Bitcoin is sitting at multi-year lows.”
Hundal was quick to point out that increased volatility doesn’t necessarily mean ‘number go up’. It simply means investors are repositioning — which could be good or bad for the price of Bitcoin.
If there is too much emphasis being put on the outcomes of this release from Bo Hines and his committee, and they undershoot or don’t provide the clarity the market was expecting – that could be quite bearish.
Pav Hundal, Lead Analyst at SwyftxThe crypto working group — known officially as the President’s Working Group on Digital Asset Markets — was established via executive order by US President Donald Trump shortly after his inauguration. The group was tasked with investigating how crypto regulation could be overhauled to allow Trump to realise his election promise to make the US the “crypto capital of the planet.”
The working group is led by Trump official Bo Hines. Its members include Treasury Secretary Scott Bessent and SEC Chair Paul Atkins.
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Working Group Report Recommends SEC Changes, More Crypto Legislation
A fact sheet summarising the working group’s recommendations released by the White House yesterday revealed a focus on accelerating change at the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). It also indicated a desire for more crypto legislation, bolstering gains made through the recent passage of the GENIUS Act and bipartisan support for the CLARITY Act.
In particular, the report called for new legislation to add to the CLARITY Act which would see the CFTC gain oversight of spot markets for non-security digital assets, and additional legislation to encourage the integration of DeFi technology into traditional financial markets.
The report recommended the SEC and CFTC “immediately enable the trading of digital assets at the Federal level,” by clarifying the rules around issues such as “registration, custody, trading, and recordkeeping” for crypto exchanges and other financial institutions.
It suggests regulators overhaul banking regulation to allow traditional financial institutions to more fully embrace Web3 tech, calling on them to “relaunch crypto innovation efforts to clarify permissible bank activities in custody, tokenization, stablecoin issuance, and the use of blockchains.”
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There were also calls to clarify and simplify the process for acquiring bank charters and reserve bank master accounts—which expand access for crypto-focused institutions to offer banking services—and to ensure crypto banking regulations align with the actual risks, and not just impose regulation as a knee-jerk response to the use of blockchain technology.
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