President Trump’s plan for a Strategic Bitcoin (BTC) Reserve has encountered complications from competing government departments.
Two agencies are vying to oversee the initiative, raising questions about legal authority, reports Bloomberg.
The reserve was ordered last year to position the US as the crypto capital of the world.
It was intended to be housed in the Treasury Department, funded by asset seizures and potential purchases. People familiar with the matter say that the U.S. Commerce Department could take charge of the Bitcoin trove. But questions arose about whether the digital asset stack could be housed indefinitely, given BTC’s tendency to undergo wild price swings.
Says White House spokesperson Liz Huston,
“President Trump campaigned on a vision of cementing America as the global capital of cryptocurrency and other cutting-edge technologies. To deliver on the president’s vision, the Trump administration continues to evaluate the best structure for a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.”
In a statement, the Justice Department says its Office of Legal Counsel “is working closely with both the Treasury and Commerce departments to determine legally available options to accomplish the president’s policy of establishing a strategic Bitcoin reserve.”
Interagency dynamics now challenge the original structure, outlining the hurdles based on administration directives and departmental positions.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The post President Trump’s Bitcoin (BTC) Reserve Plan Encounters Interagency Hurdles appeared first on The Daily Hodl.
President Trump’s plan for a Strategic Bitcoin (BTC) Reserve has encountered complications from competing government departments. Two agencies are vying to oversee the initiative, raising questions about legal authority, reports Bloomberg. The reserve was ordered last year to position the US as the crypto capital of the world. It was intended to be housed in
The post President Trump’s Bitcoin (BTC) Reserve Plan Encounters Interagency Hurdles appeared first on The Daily Hodl. Bitcoin, BTC, News, strategic bitcoin reserve
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.