White House · Bloomberg · Donald Trump · U.S. Treasury · U.S. · The Block
However, questions have not been raised about whether Treasury can legally manage the reserve, on Monday
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Conversations have also pivoted to putting the reserve inside the Commerce Department.
Key facts
- The Commerce Department and the Treasury Department did not immediately respond to requests for comment from The Block
- Nick Begich, R-Alaska, would build upon the order and include language for acquiring 1 million bitcoin over five years using "budget-neutral strategies
- In an emailed statement to The Block, a White House spokesperson said the administration is continuing to work on its plans for the reserve
- President Trump campaigned on a vision of cementing America as the global capital of cryptocurrency and other cutting-edge technologies," said spokesperson Liz Huston
Summary
President Donald Trump's plans for a strategic bitcoin reserve are hitting a legal and jurisdictional snag, according to reporting from Bloomberg. Trump laid out his plan for that reserve early on in his presidency, funded mainly through bitcoin already owned by the government through criminal or civil forfeitures, and a separate digital asset stockpile. However, questions have not been raised about whether Treasury can legally manage the reserve, on Monday, citing people familiar with the matter. In an emailed statement to The Block, a White House spokesperson said the administration is continuing to work on its plans for the reserve.